The efficiency wage hypothesis and the role of corporate governance in firm performance

Jim DiGabriele and Marianne Ojo

MPRA Paper from University Library of Munich, Germany

Abstract: As well as a two-fold contribution to the literature as highlighted in their paper“, Financial Disruptions and the Cyclical Upgrading of Labor” (2017:8), and elaborated on by Epstein et al, the reconciliation of two quantitative limitations of current general equilibrium theories constituting part of such contribution, this paper highlights the need to incorporate other theories such as those relating to the economics of the firm – in explaining firm performance – given the previously highlighted limitations of “canonical models”. The inability to account for variables which are independent of exogenously or endogenously determined factors and which are outside their model, also necessitates the incorporation of other theories and factors to be taken into account in arriving at more accurate conclusions which determine firm performance.

Keywords: efficiency wage hypothesis; pro cyclicality; financial cycles; firm performance; corporate governance (search for similar items in EconPapers)
JEL-codes: D4 D8 E3 E5 E6 G2 G3 M4 (search for similar items in EconPapers)
Date: 2017-08
New Economics Papers: this item is included in nep-hrm and nep-mac
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Working Paper: The efficiency wage hypothesis and the role of corporate governance in firm performance (2017)
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