Gonzalez, Luis G.; Gurtoviy, Ruslan - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2008
We model deferred compensation as a share of an uncertain futureprofit granted by a financially constrained employer to … her employeein mutual agreement. Deferred compensation serves as a retentionmechanism, helping the employer to avoid …, the employer will to defer compensation (pay incash) to the employee. The employee always improves his position inthe …