Employees

Managers, Workers, and Corporate Control

If management has high private benefits and a small equity stake, managers and workers are natural allies against takeover threats. Two forces are at...

Exit vs. Voice

We study the relative effectiveness of exit (divestment and boycott) and voice (engagement) strategies in promoting socially desirable outcomes in...

Efficiency Arguments for the Collective Representation of Workers: A Sketch

The dominant agency-cost paradigm for the analysis of corporate law is based on the proposition that the welfare of society is best met by rules which...

Personal and Organizational Higher Purpose, Corporate Governance and Shareholder Value: Survey Results

This paper reports the findings of a recent survey of 1019 individuals to learn about their commitment to and perceived value from personal and...

Trust, Owner Rights, Employees and Firm Performance

This is a study of variations in trust relations according to institutional setting. A wide body of comparative institutional literature within...

The Additional Costs of CEO Compensation: The Effect of Relative Wealth Concerns of Employees

Do employees who compare themselves to the CEO matter for executive compensation? We hypothesize that employees have relative wealth concerns and...

Mergers, Spin-offs, and Employee Incentives

Corporate Financial Frictions and Employee Mental Health

This paper argues that corporate financial frictions can have an adverse effect on employee mental health, an important determinant of employee...

Employee Satisfaction, Labor Market Flexibility, and Stock Returns Around the World

Studying 30 countries, we find that the link between employee satisfaction and stock returns is significantly increasing in a country’s labor market...

Talent Discovery and Poaching under Asymmetric Information

We develop a model of the market for knowledge workers in which talent is discovered on the job. In the model, asymmetric information and firm-specific...

Economics of the Stakeholders' Firm

Employment and Wage Insurance within Firms: Worldwide Evidence

If unemployment insurance is more generous, workers should demand less implicit insurance from their employers: firm- and government-provided...