Prior authors note that investor distraction during Fridays and some holidays leads to muted responses to earnings surprises. We develop daily investor distraction measures using abnormal U.S. air traffic to proxy for investor distraction. These measures provide additional predictive information...

Prior authors note that investor distraction during Fridays and some holidays leads to muted responses to earnings surprises. We develop daily investor distraction measures using abnormal U.S. air traffic to proxy for investor distraction. These measures provide additional predictive information...

We compare the economic approach to research on personnel and organizational design to approaches from behavioral disciplines. Instead of a survey of the field, our emphasis is on topics which are important in organizational research outside of economics, yet have been little emphasized by...

A theoretical and empirical analysis of within-job and promotion-based incentives for middle managers is presented, using personnel data from a firm. Within-job incentives are stronger than implied by previous studies. Evidence is provided that promotions sort employees by ability, and also...

This study examines two questions: when do firms make greater use of subjectivity in awarding bonuses, and what are the effects of subjectivity on employee pay satisfaction and firm performance? We examine these questions using data from a sample of 526 department managers in 250 car...

This study empirically examines two basic questions. First, where and why do firms make greater or lesser use of subjectivity in the performance evaluations that lead to annual bonuses? Second, what are the effects of greater or lesser use of subjectivity on employee pay satisfaction? We examine...