In this contribution we examine the interrelation between intra-firm wage increases and firm performance. Previous studies have focused on the dispersion of wages in order to examine for the empirical dominance of positive monetary incentives effects compared to adverse effects due to fairness...

Wenn man Lohn als Tausch für das Produkt aus Arbeitszeit und Arbeitskraft ansieht, dann kann etwas mit den Managergehältern nicht stimmen - oder die Gleichung stimmt nur für niedrige Löhne. Wenn aber Lohn, Gehalt und Prämien nicht alles sind - was dann? Könnte es sein, daß Anerkennung,...

Prevailing executive pay practices rest on fallacious assumptions about performance attribution, the nature of alignment, and the psychology of incentives, and have numerous unintended consequences that are value-destructive particularly for long term and diversified shareholders. The focus of...

We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to avoid controversy on CEO pay, implying they face significant constraints other than participation and incentive compatibility. These constraints...