Ortín‐Ángel, Pedro; Cannella, Albert A. - In: Management Research: Journal of the Iberoamerican … 2 (2004) 1, pp. 7-23
We develop theoretical arguments from the efficiency wage model (Shapiro & Stiglitz, 1984) to provide better understanding of Fama’s (1980) seminal notion that executive labor markets contribute to the alignment of executive and shareholder interests. We show how the efficiency wage model can...
