This paper studies how altruism between managers and employees affects relational incentive contracts. To this end we …

predictions from the tournament theory to the context of transition economies in which state ownership still plays a significant …The promotion tournament as a potentially important incentive mechanism for top management in transition economies has … to decide on the tournament winner). Using comprehensive financial and accounting data on China's listed firms from 1998 …

workers and managers. Average output is substantially higher if bonuses are paid in the middle rather than upfront or at the …

predicted by theory and our simulations. Our findings highlight the pitfalls of relying on a particular parameterization of a …