Relative Earnings and Firm Performance: Evidence from Publicly-listed Firms in China, 2005-2012
Peiwen Bai and
Wenli Cheng ()
No 51-14, Monash Economics Working Papers from Monash University, Department of Economics
This paper studies the relationship between three measures of relative earnings and firm performance based on data of 664 listed manufacturing companies in China over the period 2005-2012. It finds that (1) capital earnings relative to labor earnings and the overall average wage level relative to a firm’s average wage level had negative effects on firm performance; (2) the earnings of high-level managers relative to ordinary workers had a positive impact on firm performance; and (3) the effects of relative earnings on firm performance differed across regions, industry characteristics, and firm ownership structures, and over different time periods.
Keywords: relative income share of capital and labor; relative earnings of management and workers; relative wage; firm performance in China (search for similar items in EconPapers)
JEL-codes: D24 J31 (search for similar items in EconPapers)
Pages: 27 pages
New Economics Papers: this item is included in nep-bec, nep-cna, nep-eff, nep-hrm, nep-sbm and nep-tra
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Journal Article: Relative earnings and firm performance: Evidence from publicly-listed firms in China, 2005–2012 (2020)
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