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Labor-Market Conditions and Leadership Styles
Why do some leaders use praise as a means to motivate workers, while other leaders use social punishment? This paper develops a simple economic model to examine how leadership styles depend on the prevailing labor-market conditions for workers. We show that the existence of a binding wage floor for workers (e.g., due to trade union wage bargaining, minimum-wage legislation, or limited-liability protection) can make it attractive for firms to hire a leader who makes use of social punishment. While the use of social punishments generally is socially inefficient, it lessens the need for high bonus pay, which allows the firm to extract rents from the worker. In contrast, firms hire leaders who provide praise to workers only if it is socially efficient to do so. Credible use of leadership styles requires either repeated interaction or a leader with the right social preferences. Only moderately altruistic leaders offer praise, whereas only moderately spiteful leaders employ social punishment. Lastly, we show that when the leaders' and workers' reservation utilities give rise to a bigger income gap between leaders and workers, attracting spiteful leaders becomes relatively less costly and unfriendly leadership becomes more prevalent.
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Leadership styles and labor-market conditions
Why do some leaders use praise as a means to motivate workers, while other leaders use social punishment? This paper develops a simple economic model to examine how leadership styles depend on the prevailing labor-market conditions for workers. We show that the existence of a binding wage floor for workers (e.g., due to trade union wage bargaining, minimum-wage legislation, or limited-liability protection) can make it attractive for firms to hire a leader who makes use of social punishment. While the use of social punishments generally is socially inefficient, it lessens the need for high bonus pay, which allows the firm to extract rents from the worker. In contrast, firms hire leaders who provide praise to workers only if it is socially efficient to do so. Credible use of leadership styles requires either repeated interaction or a leader with the right social preferences. In a single-period setting, only moderately altruistic leaders use praise as a motivation tool, whereas only moderately spiteful leaders use social punishment. Lastly, we show that when the leaders' and workers' reservation utilities give rise to a bigger income gap between leaders and workers, attracting spiteful leaders becomes relatively less costly and unfriendly leadership becomes more prevalent.
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Labor-Market Conditions and Leadership Styles
In: IZA Discussion Paper No. 13860
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Working paper
Assessing the Change in Labor Market Conditions
In: FEDS Working Paper No. 2014-109
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Assessing the Change in Labor Market Conditions
In: FEDS Working Paper No. 2014-109
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Working paper
Leadership Styles and Labor-Market Conditions
In: CEPR Discussion Paper No. DP15790
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Working paper
Cash Signing Bonus and Labor Market Condition
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Working paper
Fertility Effects of Labor Market Conditions at Graduation
In: Yin, Y. and Jiang, Y., 2023. Fertility Effects of Labor Market Conditions at Graduation. China & World Economy, 31(4), pp.120-152.
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Labor Market Conditions and Social Insurance in China
In: IFN Working Paper No. 924
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Labor market conditions and social insurance in China
In: China economic review, Band 27, S. 52-68
ISSN: 1043-951X
Conditional Cash Transfers and Labor Market Conditions
In: IZA Discussion Paper No. 14667
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Labor Market Conditions and Geographic Mobility in the Eurozone
In: Huart F. and M. Tchakpalla, "Labor market conditions and geographic mobility in the Eurozone", Comparative Economic Studies, 61(2), 263-284, 2019
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MECHANISMS OF PERSONNEL MANAGEMENT IN LABOR MARKET CONDITIONS
In: Publičnoe administrirovanie i nacional'naja bezopasnost': Publične adminіstruvannja ta nacional'na bezpeka = Public Administration and National Security, Heft 5(7)
ISSN: 2617-572X
Do local labor market conditions impact bank profitability?
In: Review of financial economics: RFE, Band 39, Heft 3, S. 314-333
ISSN: 1873-5924
AbstractThis paper studies the impact of local unemployment shocks on bank profitability. Our work advances on previous studies that use national‐ or state‐level data, as we create a bank‐specific measure of local unemployment in which the bank has exposure. Using this novel measure, we determine how shocks to unemployment affect each individual bank's profitability. Our results indicate that an increase in the local market unemployment rate decreases bank profitability on average by 3.2%. The impact of local market conditions on profitability is stronger for banks that are large, operate in more markets, face more competition, and have a greater reliance on lending. We further examine what components of bank profitability are most impacted by local labor market conditions and find that net interest income is most impacted.