CEO compensation that is perceived to be excessive regularly causes agitation in the population. Using German data, we show that perceiving CEO pay to be unjust has economic repercussions in terms of lower work morale.

It is standardly assumed that individuals react to perceived unfairness or norm violations in precisely the same area or relationship where the original offense has occurred. However, grievances over being exposed to injustice may have even broader consequences and also spill over to other...

’Nothing in business excites so much interest in the wider world as the pay of top executives.’ theEconomist wrote in a 2003 article titled ’Fat cats feeding - Executive pay’. Indeed, it seems thatthe dwindling heights to which CEO compensation has risen trigger stronger feelings than...

Nationwide school choice and fixed per-student governmental funding provide incentives for Dutch schools to perform well. Roughly one third of Dutch pre-university schools are of catholic denomination. Acknowledging this widely available outside option to public and other schools, this paper...

This paper studies the effects of labor market outcomes on firms' loan demand and on credit intermediation. In a first step, I investigate how wages in the production sector affect bank net worth and the process of financial intermediation in partial equilibrium. Second, the role of the...

A positive view of the self is often portrayed as a valuable asset in the sense that it can have performance enhancing properties. Using data on self-esteem - the most fundamental manifestation of positive self evaluations - and high school grade point averages of American students we produce...

A simple model of decentralised graduation standards is presented. It is shown that a school whose students are disadvantaged on the labour market applies less demanding standards because such students have less incentives to graduate. The model's predictions are tested using Dutch school-level...

It is standardly assumed that individuals react to perceived unfairness or norm violations in precisely the same area or relationship where the original offense has occurred. However, grievances over being exposed to injustice may have even broader consequences and also spill over to other...