淡江大學機構典藏:Item 987654321/80145
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    Title: Does Performance-Based Compensation Boost Economic Growth or Lead to More Income Inequality?
    Authors: Chang, Juin-jen;Liu, Chia-ying;Hung, Hsiao-wen
    Contributors: 淡江大學產業經濟學系
    Date: 2013-03
    Issue Date: 2013-01-18 13:14:44 (UTC+8)
    Publisher: Richmond: Wiley-Blackwell Asia Pacific
    Abstract: Recent observations suggest that as performance-related pay has been increasingly used, (i) compensation has grown with labour productivity, and (ii) there has been a rise in income inequality. This study is a theoretical attempt to provide a convincing explanation of these observations. We develop an endogenous growth framework comprising a profit/revenue-sharing scheme that simultaneously governs income inequality and economic growth. Therefore, we show that a share-based scheme can cause the workers to engage in performance pay seeking and, as a result, boost economic growth. Nonetheless, the intensive use of performance pay also results in higher income inequality. Because of the increased use of performance pay, there exists a positive relationship between economic growth and income inequality. While this result contradicts the traditional notion, it is supported by recent empirical studies. Our welfare analysis indicates that a more intensive sharing scheme does not necessarily raise the level of social welfare, even though it is favourable to economic growth.
    Relation: Economic Record 89(284), pp.72-82
    DOI: 10.1111/1475-4932.12020
    Appears in Collections:[Graduate Institute & Department of Industrial Economics] Journal Article

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