G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15751
DP15751 Financing Skilled Labor
Vladimir Vladimirov
发表日期2021-02-01
出版年2021
语种英语
摘要How does competition for high-skilled workers affect the design and financing of compensation? The paper shows that competition affects compensation structure by leading to more equity-based pay. Such compensation attracts workers by helping them extract higher expected pay when uncertain about firm value. Equity-based compensation reduces firms' need for external financing, but it increases retention risk. Specifically, by making workers dependent on the retention of other workers, equity-based compensation increases the risk that worker turnover becomes contagious. To lower their compensation costs and improve retention, firms with stronger bargaining power favor deferred fixed compensation backed by credit lines.
主题Financial Economics
关键词Financing wages Compensation structure of non-executive employees High-skilled employees Contagious turnover Worker runs Worker bargaining power
URLhttps://cepr.org/publications/dp15751
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544753
推荐引用方式
GB/T 7714
Vladimir Vladimirov. DP15751 Financing Skilled Labor. 2021.
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