In recent years, scholars and teachers carried out in-depth study around performance pay of compulsory education and teacher mobility and achieved more fruitful results, providing a good theoretical basis for the next...In recent years, scholars and teachers carried out in-depth study around performance pay of compulsory education and teacher mobility and achieved more fruitful results, providing a good theoretical basis for the next step of the researchers. But most of their researches are theoretical analysis, with more in-depth theory but less empirical research on specific measures operability, which also need more and further exploration of scholars.展开更多
In classic agency models, first best efficiency can′t be achieved due to the trade-off between risk and incentives except that agency is risk neutral. Whereas if the principal′s objective is not contractible, an alt...In classic agency models, first best efficiency can′t be achieved due to the trade-off between risk and incentives except that agency is risk neutral. Whereas if the principal′s objective is not contractible, an alternative objective performance measurement which is contractible is always proposed. However, if the reaction of this objective performance measurement to agency′s effort differs from that of the principal′s objective, the agent would game performance measures, which leads to loss of efficiency, even if agency is risk neutral. By adding subjective weights on objective measures, or combination of subjective performance measurement with objective performance measurement, efficiency can be regained. Implications for faculty pay are also discussed.展开更多
Drawing on the discrepancy model, we re-examine the impact of pay comparison on employees＇ pay level satisfaction by taking pay basis and pay program into account. Actual pay data from 382 Chinese employees, along wi...Drawing on the discrepancy model, we re-examine the impact of pay comparison on employees＇ pay level satisfaction by taking pay basis and pay program into account. Actual pay data from 382 Chinese employees, along with their self-reported pay level satisfaction, provides support for our research model. Specifically, results show that the positive effect of over/underpayment on pay level satisfaction is more robust than that of internal pay standing, indicating the importance of pay basis for pay satisfaction perception. In addition, the positive relationship between internal pay standing and pay level satisfaction is weaker among employees who are in a pay program of high pay-for-performance intensity. We conclude by discussing the theoretical and practical implications of these findings.展开更多
In 2008 remuneration reform for public sector was introduced in Russia. Its main idea was to implement P4P principle well-known in business, including more flexible approach to wage setting. This paper presents an att...In 2008 remuneration reform for public sector was introduced in Russia. Its main idea was to implement P4P principle well-known in business, including more flexible approach to wage setting. This paper presents an attempt to estimate an influence of the new remuneration system （NRS） on earnings level, inequalities and job motivation. The estimates are based on microdata of monitoring survey of healthcare economic problems conducted in Russia in 2009 and 2010. The extended specification of Mincer earning equation and probit-models were used. One could observe increasing wage rates and earning inequalities within healthcare institutions adopted NRS though worker＇s experience and regional economic differences remain significant wage determining factors. As it occurs, NRS is widely adopted by large regional and central hospitals while smaller health care institutions show less enthusiasm in implementing reform. Obviously, the larger institutions have more money and better educated administrative staff to introduce the new system. Those chief physicians who adopted NRS point out a positive correlation between earnings and individual input. At the same time, those committed to old principles of wage setting more often note declining job turnover. This latter result could possibly indicate negative personnel sorting, less productive workers tending to stay with employer who doesn＇t assess their performance. As concerns anticipated NRS results such as increasing motivation and quality of health services, the evidence is still ambiguous.展开更多
In this paper, we empirically analyze the effects that the geographical relationships between chairman and CEO have on the latter's compensation contracts,based on samples of listed A-share private firms from 2005...In this paper, we empirically analyze the effects that the geographical relationships between chairman and CEO have on the latter's compensation contracts,based on samples of listed A-share private firms from 2005 to 2014. We find that geographical relationships are related to lower pay–performance sensitivity, and that the correlation mainly exists in poor performance periods,suggesting that geographical relationships weaken the effectiveness of compensation contracts. We also find that geographical relationships can be substituted by external formal institutions.展开更多
文摘In recent years, scholars and teachers carried out in-depth study around performance pay of compulsory education and teacher mobility and achieved more fruitful results, providing a good theoretical basis for the next step of the researchers. But most of their researches are theoretical analysis, with more in-depth theory but less empirical research on specific measures operability, which also need more and further exploration of scholars.
基金This projectis supported by the tenth five-year plan of the research on humanities & social scienceof Ministry of Education( # 0 1 JC6 30 0 0 3)
文摘In classic agency models, first best efficiency can′t be achieved due to the trade-off between risk and incentives except that agency is risk neutral. Whereas if the principal′s objective is not contractible, an alternative objective performance measurement which is contractible is always proposed. However, if the reaction of this objective performance measurement to agency′s effort differs from that of the principal′s objective, the agent would game performance measures, which leads to loss of efficiency, even if agency is risk neutral. By adding subjective weights on objective measures, or combination of subjective performance measurement with objective performance measurement, efficiency can be regained. Implications for faculty pay are also discussed.
基金Acknowledgements This research is supported by the National Science Foundation of China （71232001, 71402061）.
文摘Drawing on the discrepancy model, we re-examine the impact of pay comparison on employees＇ pay level satisfaction by taking pay basis and pay program into account. Actual pay data from 382 Chinese employees, along with their self-reported pay level satisfaction, provides support for our research model. Specifically, results show that the positive effect of over/underpayment on pay level satisfaction is more robust than that of internal pay standing, indicating the importance of pay basis for pay satisfaction perception. In addition, the positive relationship between internal pay standing and pay level satisfaction is weaker among employees who are in a pay program of high pay-for-performance intensity. We conclude by discussing the theoretical and practical implications of these findings.
文摘In 2008 remuneration reform for public sector was introduced in Russia. Its main idea was to implement P4P principle well-known in business, including more flexible approach to wage setting. This paper presents an attempt to estimate an influence of the new remuneration system （NRS） on earnings level, inequalities and job motivation. The estimates are based on microdata of monitoring survey of healthcare economic problems conducted in Russia in 2009 and 2010. The extended specification of Mincer earning equation and probit-models were used. One could observe increasing wage rates and earning inequalities within healthcare institutions adopted NRS though worker＇s experience and regional economic differences remain significant wage determining factors. As it occurs, NRS is widely adopted by large regional and central hospitals while smaller health care institutions show less enthusiasm in implementing reform. Obviously, the larger institutions have more money and better educated administrative staff to introduce the new system. Those chief physicians who adopted NRS point out a positive correlation between earnings and individual input. At the same time, those committed to old principles of wage setting more often note declining job turnover. This latter result could possibly indicate negative personnel sorting, less productive workers tending to stay with employer who doesn＇t assess their performance. As concerns anticipated NRS results such as increasing motivation and quality of health services, the evidence is still ambiguous.
基金financial support from China Postdoctoral Science Foundation (2016M601606)Humanity and Social Science Youth foundation of Ministry of Education of China (15YJC790137)
文摘In this paper, we empirically analyze the effects that the geographical relationships between chairman and CEO have on the latter's compensation contracts,based on samples of listed A-share private firms from 2005 to 2014. We find that geographical relationships are related to lower pay–performance sensitivity, and that the correlation mainly exists in poor performance periods,suggesting that geographical relationships weaken the effectiveness of compensation contracts. We also find that geographical relationships can be substituted by external formal institutions.
