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Career mobility theory suggests that given a certain occupation, schooling improves upward mobility in terms of … promotion and wage growth. We are the first to test the implications of this theory for over- and under-education by means of …. Altogether, these findings strongly support the career mobility theory. Furthermore, by differentiating between internal and …
Persistent link: https://www.econbiz.de/10012929528
In this paper, I extend the organizational design literature by examining how the delegation choice is affected by the ability to resolve the incentive problem caused by this delegation. Based on the seminal papers by Grossman and Hart (1986) and Holmstrom and Milgrom (1994), I argue that the...
Persistent link: https://www.econbiz.de/10014029268
The impact of wage increases on job satisfaction is explored theoretically and empirically. To do this, we apply a utility function that rises with the absolute wage level as well as with wage increases. It is shown that when employees can influence their wages by exerting effort, myopic utility...
Persistent link: https://www.econbiz.de/10012784044
This paper tests two hypotheses from the theory of elimination tournaments: (i) that uneven tournaments, where the … contestants are ex ante heterogeneous, entail lower effort exertion; this is a prediction from agency theory that has not been … underlies any agency theory about elimination tournaments, and has been empirically tested in other contexts. The evidence …
Persistent link: https://www.econbiz.de/10013319622
supply using a real effort experiment. Two results stand out. First, no one theory seems to fit the pooled data. On average …. Given recent interest in theories of reciprocity and intrinsic motivation and their implications for effort provision, the … neoclassical prediction seems less obvious today. To better understand the motivation of these workers, I estimate their labor …
Persistent link: https://www.econbiz.de/10011453435
, however, with a minority of workers report crowding in of motivation. Thus, the impact of performance pay might depend on the …
Persistent link: https://www.econbiz.de/10011946785
data regression are used to analyze an empirical model based on the theory of hedonic labour market outcomes. These …
Persistent link: https://www.econbiz.de/10003962048
When there is uncertainty about a CEO's quality, news about the firm causes rational investors to update their expectation of the firm's value for two reasons: Updates occur because of the direct effect of the news, and also because news leads investors to update their assessment of the CEO's...
Persistent link: https://www.econbiz.de/10009724571
We evaluate whether management risk, coming from uncertainty about management's value added, affects firms' default risks and debt pricing. We find that, regardless of the reason for the turnover, CDS spreads, loan spreads and bond yield spreads all increase at the time of management turnover,...
Persistent link: https://www.econbiz.de/10011962220
data regression are used to analyze an empirical model based on the theory of hedonic labour market outcomes. These …
Persistent link: https://www.econbiz.de/10013143659