Relative pay and its effects on firm efficiency in a transitional economy

被引：21

作者：

Firth, Michael ^{[1
]}

Leung, Tak Yan ^{[2
]}

Rui, Oliver M. ^{[3
]}

Na, Chaohong ^{[4
]}

机构：

[1] Lingnan Univ, Dept Finance & Insurance, Tuen Mun, Hong Kong, Peoples R China

[2] Open Univ Hong Kong, Lee Shau Kee Sch Business & Adm, Homantin, Hong Kong, Peoples R China

[3] CEIBS, Shanghai, Peoples R China

[4] Yunnan Univ Finance & Econ, Sch Business, Kunming, Peoples R China

来源：

JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION | 2015年 / 110卷

关键词：

Productivity; Top management pay; Relative pay; Transitional economy; RANK-ORDER TOURNAMENTS; CEO COMPENSATION; WAGE DISPERSION; EXECUTIVE PAY; PERFORMANCE; SATISFACTION; OWNERSHIP; CHINA; PRODUCTIVITY; INCENTIVES;

D O I：

10.1016/j.jebo.2014.12.001

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this study, we examine the impact of relative pay (manager pay divided by average worker pay) on a firm's productivity. Using data from a major transitional economy, China, we find that relative pay is negatively associated with high productivity. Our results provide support for the view that workers are alienated when their incomes are far lower than that of top management and this leads to lower productivity. This effect is most pronounced in labor intensive firms. (C) 2014 Elsevier B.V. All rights reserved.

引用

页码：59 / 77

页数：19

共 50 条

[41] Organizational culture and firm effectiveness: An examination of relative effects of culture traits and the balanced culture hypothesis in an emerging economy
Yilmaz, Cengiz
Ergun, Ercan
JOURNAL OF WORLD BUSINESS, 2008, 43 (03) : 290 - 306
[42] Payoffs for layoffs? An examination of CEO relative pay and firm performance surrounding layoff announcements
Bentley, F. Scott
Fulmer, Ingrid S.
Kehoe, Rebecca R.
PERSONNEL PSYCHOLOGY, 2019, 72 (01) : 81 - 106
[43] CEO-employee pay gap and firm R&D efficiency
Chan, H. Leon
Kawada, Brett
Shin, Taekjin
Wang, Jeff
REVIEW OF ACCOUNTING AND FINANCE, 2020, 19 (02) : 271 - 287
[44] Executive pay restrictions, political promotion, and firm efficiency: Evidence from China
Li, Wentao
Wang, Xiaoke
Yu, Lisheng
PACIFIC-BASIN FINANCE JOURNAL, 2024, 88
[45] Bribery Environments and Manufacturing SME Efficiency: Evidence from a Transitional Economy
Doan, Anh-Tuan
Khan, Aila
Tran, Quan
Holmes, Scott
INTERNATIONAL JOURNAL OF PUBLIC ADMINISTRATION, 2022, 45 (05) : 453 - 474
[46] The effects of busy board on firm's probability to pay dividends
Sun, Liang
Yu, Huaibing
RESEARCH IN INTERNATIONAL BUSINESS AND FINANCE, 2022, 60
[47] Does unfairness reduce efficiency? Within-industry CEO pay inequity and firm efficiency in China
Han, Feng
Tee, Kienpin
Hao, Siyuan
Xiong, Rancen
FINANCE RESEARCH LETTERS, 2024, 62
[48] New Capital and Liquidity Requirements Transitional Effects on the Economy
Elliott, Douglas J.
NEW INTERNATIONAL FINANCIAL SYSTEM: ANALYZING THE CUMULATIVE IMPACT OF REGULATORY REFORM, 2016, 48 : 473 - 492
[49] Do institutional framework and its threshold matter in the sensitivity of CEO pay to firm performance? Fresh insights from an emerging market economy
Olaniyi, Clement Olalekan
Young, Ademola Obafemi
Xuan Vinh Vo
Al-Faryan, Mamdouh Abdulaziz Saleh
MANAGERIAL AND DECISION ECONOMICS, 2022, 43 (08) : 3386 - 3403
[50] Does a firm apply a consistent pay standard to all of its workforce?
Cardoso, AR
ECONOMICS LETTERS, 2000, 67 (02) : 217 - 222

← 1 2 3 4 5 →