wage cuts. Given this first-stage regression, the status of a performance-based payment system, based on the firm's past …This study analyzes the trade-off relationship between layoffs and wage cuts. If the introduction of a performance-based … payment system stimulates workers' pecuniarymotivated minds, their morale can be damaged more severely by wage cuts than prior …

wage cuts. Given this first-stage regression, the status of a performance-based payment system, based on the firm’s past …This study analyzes the trade-off relationship between layoffs and wage cuts. If the introduction of a performance-based … payment system stimulates workers’ pecuniarymotivated minds, their morale can be damaged more severely by wage cuts than prior …