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| Tekijä: | Chang, J-J. |
| Otsikko: | Profit sharing, risk sharing, and firm size: Implications of efficiency wages |
| Lehti: | Small business economics
2006 : SEP/OCT, VOL. 27, 2-3, p. 261-273 |
| Asiasana: | labour markets pay profit risk companies by size theories models |
| Kieli: | eng |
| Tiivistelmä: | This paper constructs a synthesis of profit-sharing (hereafter as: pr-shg.) and efficiency-wage models to highlight the role of the risk attitudes of the firm and its employees. It is shown that in a pr-shg. economy unemployment is no longer a necessary device to induce work effort and consequently, the labour market equilibrium may be characterized (as: charzd.) by full employment. This kind of a result is more likely to be true when the economy is charzd. by small-sized firms. Furthermore, provided is also a preliminary sketch of the situations in which the firm chooses a pr-shg. program or a fixed-wage one. |
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