Arbeitspapier
Monetary reference points of managers: An empirical investigation of status quo preferences and social comparisons
We assemble two reference point based concepts of utility in our empirical study: the own previous status quo and social comparisons. We explore the relative relevance of these concepts for total compensation as well as for different parts of the compensation package of managers. Making use of a unique panel data set of managers of the German chemical sector, we find that social comparisons of compensation indeed affect reported job satisfaction. Managers compare their total compensation (and fixed salary) with others in the chemical sector and report lower satisfaction scores when they earn less than similar managers. We find hardly any evidence for the relevance of status quo preferences.
- Sprache
-
Englisch
- Erschienen in
-
Series: IZA Discussion Papers ; No. 7097
Klassifikation
Wirtschaft
Safety; Job Satisfaction; Related Public Policy
Wage Level and Structure; Wage Differentials
Safety; Job Satisfaction; Related Public Policy
Wage Level and Structure; Wage Differentials
Thema
compensation
job satisfaction
reference points
social comparisons
status quo preferences
Managervergütung
Prospect Theory
Arbeitszufriedenheit
Interpersoneller Nutzenvergleich
Chemieindustrie
Deutschland
job satisfaction
reference points
social comparisons
status quo preferences
Managervergütung
Prospect Theory
Arbeitszufriedenheit
Interpersoneller Nutzenvergleich
Chemieindustrie
Deutschland
Ereignis
Geistige Schöpfung
(wer)
Grund, Christian
Martin, Johannes
Martin, Johannes
Ereignis
Veröffentlichung
(wer)
Institute for the Study of Labor (IZA)
(wo)
Bonn
(wann)
2012
- Handle
- Letzte Aktualisierung
-
12.07.2024, 13:20 MESZ
Objekttyp
- Arbeitspapier
Beteiligte
- Grund, Christian
- Martin, Johannes
- Institute for the Study of Labor (IZA)
Entstanden
- 2012
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