보수체계의 유인효과와 선택효과
The Effects of Performance-Based Pay on Earnings: Incentive versus Selection
0
조회
0
다운로드
4
인용
0
참고문헌
키워드
초록
노동시장에서 성과급 근로자는 고정급 근로자보다 높은 임금을 받는다. 이는 성과급이 고정급보다 근로자의 일할 유인을 증대시키기 때문이다. 그러나성과급의 높은 임금은 생산성이 높은 근로자들이 고정급보다 성과급을 선택하여 나타난 결과일 수도 있다. 본 연구는 성과급의 임금효과에 관한 이 두가설, 유인효과 가설(incentive effects hypothesis)과 선택효과 가설(selection effects hypothesis)의 상대적 타당성을 검증한다. 한국노동패널 1차-20차년도조사자료를 이용한 단순 회귀분석(pooled OLS) 결과에 의하면, 성과급 근로자들은 고정급 근로자보다 7.9-10.2% 높은 시간당 임금을 받는다. 그러나 개인의관찰되지 않은 생산성을 통제한 고정효과(fixed effect) 모형의 추정결과에의하면, 성과급의 임금 프리미엄은 2.5-3.5%로 줄어든다. 이러한 추정결과는성과급 효과에 유인효과와 선택효과가 모두 포함되어 있음을 의미한다.
Abstract
Performance-based pay workers receive higher wages than fixed pay workers in the labor market. This may be because performance-based pay workers work harder than fixed pay workers. Alternatively, the wage premium may be the result of a selection process that results in more productive workers being self-selected into performance-based pay. Using the 1st-20th waves of the Korea Labor and Income Panel Study, this study examines the relevance of these two hypotheses: the incentive effects hypothesis and the selection effects hypothesis. The estimation results from a pooled OLS show that performance-based pay workers earn 7.9-10.2% higher hourly wages than fixed pay workers. However, the results from a fixed effect model that controls for individuals’ unobserved productivity show a decrease in the wage premium for performance-based workers to 2.5-3.5%. These results imply that both incentive effects and selection effects exist in performance-based pay.
참고문헌 (25)
- 제20차(2017)년도 한국가구와 개인의 경제활동-한국노동패널 기초분석보고서, "김유빈", 한국노동연구원, ~ (2018)
- Bäker, A., "Risk-sorting and Preference for Team Piece Rates", Journal of Economic Psychology, 34, pp.285~300 (2013)
- Booth, A. L., "Earnings, Productivity, and Performance-Related Pay", Journal of Labor Economics, 27, pp.447~463 (1999)
- Brown, C., "Wage Levels and Methods of Pay", Rand Journal of Economics, 23, pp.366~375 (1992)
- The Performance Pay Premium: How Big Is It and Does It Affect Wage Dispersion?, "Bryson, A.", IZA, ~, pp.IZA Discussion Paper No. 8360 (2014)
- Bun, M., "The Impact of Higher Fixed Pay and Lower Bonuses on Productivity", Journal of Labor Research, 39, pp.1~21 (2018)
- Chung, D., "Do Bonuses Enhance Sales Productivity : A Dynamic Structural Analysis of Bonus-Based Compensation Plans", Marketing Science, 33, pp.165~187 (2014)
- Ewing, B. T., "Wages and Performance-Based Pay", Economics Letters, 51, pp.241~246 (1996)
- Freixas, X., "Planning under Incomplete Information and the Ratchet Effect", Review of Economic Studies, 52, pp.173~191 (1985)
- Frey, B., "Motivation Crowding Theory", Journal of Economic Surveys, 15, pp.589~611 (2001)
- Greene, W., "Econometric Analysis" (2018), Pearson
- Grund, C., "Evidence on Performance Pay and Risk Aversion", Economics Letters, 102, pp.8~11 (2010)
- Grossman, S., "An Analysis of the Principal-Agent Problem", Econometrica, 51, pp.7~45 (1983)
- Hart, O., "Advances in Economic Theory", pp.71~155 (1987), Cambridge University Press
- Homstrom, B., "Aggregation and Linearity in the Provision of Intertemporal Incentives", Econometrica, 55, pp.303~328 (1987)
- Krueger, A. B., "Efficiency Wages and the Inter-Industry Wage Structure", Econometrica, 56, pp.259~293 (1988)
- Lazear, E. P., "Salaries and Piece Rates", Journal of Business, 59, pp.405~431 (1986)
- Lazear, E. P., "Performance Pay and Productivity", American Economic Review, 90, pp.1346~1361 (2000)
- Lemieux, T., "Performance Pay and Wage Inequality", Quarterly Journal of Economics, 124, pp.1~49 (2009)
- MacLeod, W. B., "Implicit Contracts, Incentive Compatibility, and Involuntary Unemployment", Econometrica, 57, pp.447~480 (1989)
- Oettinger, G. S., "Do Piece Rate Influence Effort Choice? Evidence from Stadium Vendors", Economics Letters, 73, pp.117~123 (2001)
- Paarsch, H. J., "Piece Rate, Fixed Wages, and Incentive Effects : Statistical Evidence from Payroll Records", International Economic Review, 41, pp.59~92 (2000)
- Parent, D., "Methods of Pay and Earnings : A Longitudinal Analysis", Industrial and Labor Relations Review, 53, pp.71~86 (1999)
- Seiler, E., "Piece Rate vs. Time Rate : The Effect of Incentives on Earnings", Review of Economics and Statistics, 66, pp.363~376 (1984)
- Shearer, B., "Piece Rate, Fixed Wages, and incentive Effects : Statistical Evidence from a Field Experiment", Review of Economic Studies, 71, pp.513~534 (2004)