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Is it really hard to motivate those who are not highly educated? Empirical evidence from a semi-parametric analysis

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  • Qiao Wang

Abstract

In this study, we estimate the principal-agent model of moral hazard using a semi-parametric estimation method. We estimate the principal-agent model of moral hazard using longitudinal data on firms and managerial compensation collected from the database of Beijing Juyuan Ruisi Data Technology Corporation Limited, called RESSET. The estimated primitives in the contracting model show that most managers with high school and master educations have significantly higher costs of moral hazard than managers with university and doctor educations. Managers with high school and master educations are harder to motivate because they lack the knowledge to fulfill the delegated tasks.

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  • Qiao Wang, 2021. "Is it really hard to motivate those who are not highly educated? Empirical evidence from a semi-parametric analysis," Applied Economics, Taylor & Francis Journals, vol. 53(52), pages 6002-6035, November.
    • Handle: RePEc:taf:applec:v:53:y:2021:i:52:p:6002-6035
    DOI: 10.1080/00036846.2021.1934394
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    Cited by:

    1. Qiao Wang, 2023. "Does the Chinese labour force make sufficient efforts? Empirical evidence using non‐parametric analysis," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 28(3), pages 3262-3280, July.
    2. Lee, Chien-Chiang & Wang, Chih-Wei & Ho, Shan-Ju, 2022. "The dimension of green economy: Culture viewpoint," Economic Analysis and Policy, Elsevier, vol. 74(C), pages 122-138.

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