Commitment in Organizations and the Competition for Talent

被引：7
|
作者：
Cooley, Thomas [1 ,2 ]
Marimon, Ramon [2 ,3 ]
Quadrini, Vincenzo [4 ,5 ]
机构：
[1] NYU, Stern Sch Business, New York, NY 10003 USA
[2] NBER, Cambridge, MA 02138 USA
[3] UPF BarcelonaGSE, European Univ Inst, CEPR, Barcelona, Spain
[4] Univ Southern Calif, Los Angeles, CA 90089 USA
[5] CEPR, Washington, DC USA
来源：
REVIEW OF ECONOMIC STUDIES | 2020年 / 87卷 / 05期
关键词：
Partnerships; Public companies; Limited commitment; Directed search; On-the-job search; Dynamic contracts; Organizational structure; MORAL HAZARD; CONTRACTS; COMPENSATION; RISK;
D O I：
10.1093/restud/rdaa008
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We show that a change in organizational structure from partnerships to public companies-which weakens contractual commitment-can lead to higher investment in high return-and-risk activities, higher productivity (value added per employee) and greater income dispersion (inequality). These predictions are consistent with the observed evolution of the financial sector where the switch from partnerships to public companies has been especially important in the decades that preceded the 21st Century financial crisis.
引用
收藏
页码：2165 / 2204
页数：40
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