Why Do Firms Hire Using Referrals? Evidence from Bangladeshi Garment Factories
研究认为企业通过内部推荐招聘是为了缓解道德风险问题，利用推荐人可被惩罚的机制来约束被推荐人的低产出，并用孟加拉国服装厂数据检验了该理论。
I argue that firms use referrals from current workers to mitigate a moral hazard problem. I develop a model in which referrals relax a limited liability constraint by allowing the firm to punish the referral provider if the recipient has low output. I test the model’s predictions using household survey data that I collected in Bangladesh. I can control for correlated wage shocks within a network and correlated unobserved type between the recipient and provider. I reject the testable implications of models in which referrals help firms select unobservably good workers or are solely a nonwage benefit to providers.