Using data on executive compensation for the German chemical industry, we investigate the relevance of two theoretical approaches that focus on bonuses as part of a long term wage policy of a firm. The first approach argues that explicit bonuses serve as substitutes for implicit career concerns....

Using data on executive compensation for the German chemical industry, we investigate the relevance of two theoretical approaches that focus on bonuses as part of a long term wage policy of a firm. The first approach argues that explicit bonuses serve as substitutes for implicit career concerns....

We investigate two theoretical approaches that focus on bonuses as part of a firm's long-term wage policy. The first approach argues that explicit bonuses serve as substitutes for implicit career concerns. The second claims that bonuses act as complements to an executive's internal career. Our...

This paper examines a principal's trade-off when he decides whether to transfer knowledge to other members of the organization. Although knowledge makes an agent more productive (productivity effect), knowledge transfer could cause the agent to become selfemployed. The agent would then become a...