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| Author: | Kang, S.-C. Yanadori, Y. |
| Title: | Adoption and coverage of performance-related pay during institutional change: an integration of institutional and agency theories |
| Journal: | Journal of Management Studies
2011 : DEC, VOL. 48:8, p. 1837-1865 |
| Index terms: | organizational change payment by results economic efficiency theories companies Korea Asia |
| Freeterms: | institutional change |
| Language: | eng |
| Abstract: | The object of this article is to identify the separate effects of economic, social, and political factors on the adoption of performance-related pay practices and their coverage by integrating institutional and agency theories. An empirical analysis is conducted with a unique sample of Korean companies that experienced the East Asian financial crisis of 1997. The findings indicate that while performance-related pay adoption was affected by economic and social factors, performance-related pay coverage was related to political factors as well as economic and social factors. It is proposed that while firms adopt performance-related pay practices in search of legitimacy, they proactively adapt them based on economic efficiency judgements. |
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