There may be very little correlation between efficiency pay of CEOs and the success of the companies they manage. McMillan, Whalley and Zhu and Groves et al. look at Chinese agricultural and industrial data respectively and discover vital incentive results. Paarsch and Shearer additionally find proof supportive of incentive and productivity effects from piece charges, as do Banker, Lee, and Potter , though the latter don’t distinguish between incentive and worker choice effects.
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