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Is there Discretion in Wage Setting? A Test Using Takeover Legislation Author info | Abstract | Publisher info | Download info | Related research | Statistics Bertrand, M.
Mullainathan, S.
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In this paper, we use states' passage of anti-takeover legislation as a source of such independent variation. Passed in the 1980s, these laws serioulsy limited takeovers of firms incorporated in legislating states. Since many view hostile takeovers as an important disciplining device, these laws potentially raised managerial discretion in affected firms. If uncontrolled managers pay higher wages, we expect wages to rise following these laws.
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Paper provided by Princeton, Woodrow Wilson School - Public and International Affairs in its series Papers with number
203.
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Length: 37 pages
Date of creation: 1998Date of revision:
Handle: RePEc:fth:priwpu:203Contact details of provider: Postal: PRINCETON UNIVERSITY, WOODROW WILSON SCHOOL OF PUBLIC AND INTERNATIONAL AFFAIRS, PRINCETON NEW- JERSEY 08542 U.S.A. Phone: (609) 258-4800 Web page: http://www.wws.princeton.edu/ More information through EDIRC
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Keywords: WAGES MANAGEMENT BUSINESS FINANCING Other versions of this item:
Article Paper Sendhil Mullainathan & Marianne Bertrand, 1998.
"Is there Discretion in Wage Setting? A Test Using Takeover Legislation ,"
Working papers
98-19, Massachusetts Institute of Technology (MIT), Department of Economics.
Marianne Bertrand & Sendhil Mullainathan, 1998.
"Is There Discretion in Wage Setting? A Test Using Takeover Legislation ,"
NBER Working Papers
6807, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Marianne Bertrand & Sendhil Mullainathan, 1998.
"Is There Discretion in Wage Setting? A Test Using Takeover Legislation ,"
Working Papers
785, Princeton University, Department of Economics, Industrial Relations Section..
[Downloadable!] Find related papers by JEL classification: J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General M12 - Business Administration and Business Economics; Marketing; Accounting - - Business Administration - - - Personnel Management; Executive Compensation G30 - Financial Economics - - Corporate Finance and Governance - - - General
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202, Princeton, Woodrow Wilson School - Public and International Affairs.
Other versions:
Marianne Bertrand & Sendhil Mullainathan, 1998.
"Executive Compensation and Incentives: The Impact of Takeover Legislation ,"
Working Papers
783, Princeton University, Department of Economics, Industrial Relations Section..
[Downloadable!] Sendhil Mullainathan & Marianne Bertrand, 1998.
"Executive Compensation and Incentives: The Impact of Takeover Legislation ,"
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98-20, Massachusetts Institute of Technology (MIT), Department of Economics.
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