Egger, Hartmut; Jahn, Elke J.; Kornitzky, Stefan - 2022
in a business group hierarchy affects workers' wages. To acknowledge that ownership linkages are not onedirectional, we … ultimate owner of a business group on workers' wages. To explain this finding, we develop a monitoring-based theory of business … groups. Our model predicts higher wages to prevent shirking by workers if a larger hierarchical distance to the ultimate …