The efficiency wage hypothesis and the role of corporate governance in firm performance

Jim DiGabriele and Marianne Ojo

MPRA Paper from University Library of Munich, Germany

Abstract: Implications of the digital economy and its impact on the Economics of Employment in the 21st Century are reflected through lower wages which have been fueled through the rise of Information Technology, with the consequential advents of phenomena such as the Fourth Industrial Revolution and the rise of emerging technologies such as Artificial Intelligence, block chain systems, Vertical Integration, Hyper-focused specialty lending, Lender-fintech partnerships, New engagement models, Product Innovation, to name but a few. As well as a consideration of the two-fold contribution to the literature, as highlighted in their paper, “Financial Disruptions and the Cyclical Upgrading of Labor” (2017:6), and elaborated on by Epstein et al (2017:6-8), the reconciliation of two quantitative limitations of current general equilibrium theories constituting part of such contribution, is also re iterated. The inability to account for variables which are independent of exogenously or endogenously determined factors and which are outside their model, also necessitates the incorporation of other theories and factors to be taken into account in arriving at more accurate conclusions which determine firm performance.

Keywords: efficiency wage hypothesis; pro cyclicality; financial cycles; firm performance; corporate governance (search for similar items in EconPapers)
JEL-codes: D4 D8 E3 E5 E6 G2 G3 M4 (search for similar items in EconPapers)
Date: 2017-08
New Economics Papers: this item is included in nep-hrm, nep-ict, nep-mac and nep-pay
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Working Paper: The efficiency wage hypothesis and the role of corporate governance in firm performance (2017)
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