search query: @indexterm social welfare / total: 200
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| Author: | Krahnen, J. P. |
| Title: | Über den Wert impliziter Treueprämien: Betriebliche Altersversorgung aus finanzierungstheoretischer Sicht. |
| Journal: | Schmalenbachs Zeitschrift für Betriebswirtschaftliche Forschung
1990 : MAR, VOL. 42:3, p. 199-215 |
| Index terms: | SOCIAL WELFARE PENSIONS FEDERAL REPUBLIC OF GERMANY |
| Language: | ger |
| Abstract: | In the essay an economic rationale for corporate pension in the absence of taxation is developed. Basically, pension liabilities are considered as a part of the wage bill where by-workers become creditors of the firm. In order to find an economic explanation for this relationship the formula by which pensions are calculated in the Federal Republic is analysed. One finds that under competitive conditions workers stand to lose part of their personal wealth, whenever they leave a firm which faces high bankruptcy risk. A high degree of worker loyalty increases a firm's ability to conquer an economic crisis. Therefore, pensions can be used by owners to signal worker loyalty to creditors. |
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