This study empirically investigates the value employees place on stock options using information from the option exercise behavior of individuals. Employees hold options for another period if the value from holding them and reserving the right to exercise them later is higher than the value of...

Much of the empirical research on CEO pay is based on agency theory and has studied the incentives executives have to make decisions that benefit shareholders. This study takes a different look at CEO success by focusing on the quality of the match between the CEO and the firm's needs. Compared...

This study investigates the performance effects of two industry-specific human resource management innovations that dramatically changed the way professional baseball teams selected and trained ballplayers. In the early part of this century major league clubs developed and refined two player...

We study strike durations and outcomes for some 2000 disputes that occurred between 1881 and 1886. Most post-strike bargaining settlements in the 1880s fell into one of two categories: either a union "victory", characterized by a significant wage gain or hours cut, or a union "defeat",...

We study strike durations and outcomes for some 2000 disputes that occurred between 1881 and 1886. Most post-strike bargaining settlements in the 1880s fell into one of two categories: either a union "victory", characterized by a significant wage gain or hours cut, or a union "defeat",...

The authors examine the sensitivity of wage setting in two federal pay systems—the General Schedule (GS) system, covering white-collar workers, and the Federal Wage System (FWS), covering blue-collar workers—to local wages and cost-of-living. In 1978 and 1980, the years of the...

In final offer arbitration the decision of the arbitrator provides the parties with information about the preferences of the arbitrator that is not available prior to the award. Using data from Wisconsin teacher negotiations from 1977 to 1986, the authors find that the information contained in...