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What's My Employee Worth? The Effects of Salary Benchmarking

By: Zoë B. Cullen, Shengwu Li and Ricardo Perez-Truglia
While U.S. legislation prohibits employers from sharing information about their employees’ compensation with each other, companies are still allowed to acquire and use more aggregated data provided by third parties. Most medium and large firms report using this type... View Details
Keywords: Information Sharing; Wages; Policy; Compensation and Benefits
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Who Values Democracy?

By: Max Miller
This paper examines the conventional view that redistribution is central to the democratization process using data from stock markets. Consistent with this view, democratizations have a large, negative impact on asset valuations driven by a rise in redistribution risk.... View Details
Keywords: Government and Politics; Risk and Uncertainty; Financial Crisis; Macroeconomics; Financial Markets; Valuation
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