This paper provides the first rigorous econometric estimates on the pay-performance relations for executives of Korean firms with and without Chaebol affiliation. To do so, we have assembled for the first time panel data (that provide information not only on executive compensation and firm...

Korea's public employees have made significant contributions to the country's rapid economic growth and social development. In recent years, however, there has been growing concern that the competitiveness of Korea's public employees is lagging behind Korea's private sector employees as well as...