Remuneration

Working Paper

The Stability of Dividends and Wages: Effects of Competitor Inflexibility

We analyze how risk sharing between a firm’s employees and owners depends on its competitors’ response to industry-wide shocks. Focusing on the electricity industry, we obtain a sample of firms with exposure to similar industry risks but...Read more

Daniel A. Rettl
Alex Stomper
Josef Zechner
14 June 2018

Pages