THE HIDDEN COSTS OF DOWNSIZING

• 成果类型: Article
• 署名作者: Drzensky, Frank; Heinz, Matthias
• 署名单位: University of Cologne; Goethe University Frankfurt
• 刊物名称: ECONOMIC JOURNAL
• ISSN/ISSBN: 0013-0133
• DOI: 10.1111/ecoj.12216
• 发表日期: 2016
• 页码: 2324-2341
• 关键词: job displacement; layoffs; mortality; equity

摘要

We analyse whether a principal's decision to lay off an agent affects the performance of the surviving agents in a laboratory experiment. We find that agents reduce their performance by 43% as a response to the lay-off decision. Heterogeneity in principals' decisions can largely be explained by different beliefs about how agents react to lay-offs.