Personnel Practices and Regulation: How Firm-Provided Incentives Respond to Changes in Mandatory Retirement Law
研究企业人事实践如何应对劳动市场监管变化，以美国《就业年龄歧视法》通过为背景，利用一家大公司近二十年的行政数据，发现长期隐性激励减弱，转向绩效薪酬。
Colleen Flaherty Manchester, University of Minnesota We study how firms’ personnel practices react to labor market regulation. While a company is compelled to comply with a new law, what is the ripple effect of the change on existing personnel policies and practices? We provide evidence using passage of the Age Discrimination in Employment Act and nearly two decades of administrative data from a large US firm. In line with theory, we find a weakening of long-term implicit incentives and movement toward pay for performance. Furthermore, the data are consistent with the firmcarefully managing its personnel practices according to economic principles to preserve incentives for employees.