Do Firms Pay For Perceived Risks At Work?
AbstractThe theory of compensating wage differentials is generally accepted. It states that firms have to pay wage bonuses for hazardous work. However, there is as yet no strong or even contrary evidence for compensating wage differentials in Germany. By estimating wage regressions with data from the German Socio-Economic Panel (GSOEP) and using individually perceived hazards of work accidents as a risk variable, evidence that firms do pay risk premiums for hazardous work are found even though other effects could dilute the existing wage bonuses. Taking into account these results, the incentives for German firms to invest in accident prevention are discussed in the context of the existing institutional conditions.
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Bibliographic InfoArticle provided by LMU Munich School of Management in its journal Schmalenbach Business Review.
Volume (Year): 53 (2001)
Issue (Month): 3 (July)
Find related papers by JEL classification:
- M12 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Personnel Management; Executives; Executive Compensation
- J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
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- Spengler, Hannes, 2004. "Kompensatorische Lohndifferenziale und der Wert eines statistischen Lebens in Deutschland (Compensating wage differentials and the value of a statistical life in Germany)," Zeitschrift für ArbeitsmarktForschung - Journal for Labour Market Research, Institut für Arbeitsmarkt- und Berufsforschung (IAB), Nürnberg [Institute for Employment Research, Nuremberg, Germany], vol. 37(3), pages 269-305.
- Schaffner, Sandra & Spengler, Hannes, 2005.
"Der Einfluss unbeobachteter Heterogenität auf kompensatorische Lohndifferentiale und den Wert eines Statistischen Lebens: Eine mikroökonometrische Parallelanalyse mit IABS und SOEP,"
Darmstadt Discussion Papers in Economics
36800, Darmstadt Technical University, Department of Business Administration, Economics and Law, Institute of Economics (VWL).
- Sandra Schaffner & Hannes Spengler, 2005. "Der Einfluss unbeobachteter Heterogenität auf kompensatorische Lohndifferentiale und den Wert eines statistischen Lebens: eine mikroökonometrische Parallelanalyse mit IABS und SOEP," Discussion Papers of DIW Berlin 539, DIW Berlin, German Institute for Economic Research.
- repec:iab:iabzaf:v:37:i:3:p:269-305 is not listed on IDEAS
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