Kajackaite, Agne and Sliwka, Dirk ORCID: 0000-0002-8026-0165 (2020). Prosocial managers, employee motivation, and the creation of shareholder value. J. Econ. Behav. Organ., 172. S. 217 - 236. AMSTERDAM: ELSEVIER. ISSN 1879-1751
Full text not available from this repository.Abstract
We argue that when contracts are incomplete it is not necessarily in the interest even of money maximizing shareholders to pick a manager who intends to maximize shareholder value. We first show in a formal model, as well as using observational data from over 900 firms and in a series of lab experiments that choosing a manager who has a preference to spend resources for social causes can increase employee motivation. In turn, losses in shareholder value due to investments in social causes may be offset by gains in employees' performance. The selection of a manager with social interests serves as a commitment device that raises employee motivation. Published by Elsevier B.V.
Item Type: | Journal Article | ||||||||||||
Creators: |
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URN: | urn:nbn:de:hbz:38-338775 | ||||||||||||
DOI: | 10.1016/j.jebo.2020.02.021 | ||||||||||||
Journal or Publication Title: | J. Econ. Behav. Organ. | ||||||||||||
Volume: | 172 | ||||||||||||
Page Range: | S. 217 - 236 | ||||||||||||
Date: | 2020 | ||||||||||||
Publisher: | ELSEVIER | ||||||||||||
Place of Publication: | AMSTERDAM | ||||||||||||
ISSN: | 1879-1751 | ||||||||||||
Language: | English | ||||||||||||
Faculty: | Unspecified | ||||||||||||
Divisions: | Unspecified | ||||||||||||
Subjects: | no entry | ||||||||||||
Uncontrolled Keywords: |
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URI: | http://kups.ub.uni-koeln.de/id/eprint/33877 |
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