How does labour share respond to risk?: theory and evidence from the Chinese industrial sector
Fuente:
Organización Internacional del Trabajo (OIT)
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| Autores principales: | , , |
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| Formato: | Artículo científico |
| Publicado: |
International Labour Organization
2020
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| _version_ | 1874525386435461124 |
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| author | Jingxian Zou Guangjun Shen Shen Jia |
| author_facet | Jingxian Zou Guangjun Shen Shen Jia Jingxian Zou Guangjun Shen Shen Jia |
| contents | How does labour share respond to risk?: theory and evidence from the Chinese industrial sector Jingxian Zou Guangjun Shen Shen Jia This study discusses the role of firm risks in the declining labor share in China. Based on the model of Holmström and Milgrom (1987), it’s demonstrated that the lower firm risks can motivate workers to work harder, leading to promoted output per worker and average wage. However, the increase in output will be larger, thus depressing the labor share. The empirical evidence supports our hypothesis, and performs robust across various model specifications and proxies for firm risks, indicating a positive correlation between labor share and firm risks. 10.1111/ilr.12111 DOI https://doi.org/10.1111/ilr.12111 publication.journalArticle |
| format | Artículo científico |
| id | ilo_995218648202676 |
| institution | Organización Internacional del Trabajo (OIT) |
| publishDate | 2020 |
| publisher | International Labour Organization |
| spellingShingle | How does labour share respond to risk?: theory and evidence from the Chinese industrial sector Jingxian Zou Guangjun Shen Shen Jia How does labour share respond to risk?: theory and evidence from the Chinese industrial sector Jingxian Zou Guangjun Shen Shen Jia This study discusses the role of firm risks in the declining labor share in China. Based on the model of Holmström and Milgrom (1987), it’s demonstrated that the lower firm risks can motivate workers to work harder, leading to promoted output per worker and average wage. However, the increase in output will be larger, thus depressing the labor share. The empirical evidence supports our hypothesis, and performs robust across various model specifications and proxies for firm risks, indicating a positive correlation between labor share and firm risks. 10.1111/ilr.12111 DOI https://doi.org/10.1111/ilr.12111 publication.journalArticle |
| title | How does labour share respond to risk?: theory and evidence from the Chinese industrial sector |
| url | https://researchrepository.ilo.org/esploro/outputs/journalArticle/How-does-labour-share-respond-to/995218648202676 |