Higher Purpose, Employees, and the Firm

IF 1.9 Q2 BUSINESS, FINANCE

Review of Corporate Finance Studies Pub Date : 2024-08-16 DOI:10.1093/rcfs/cfae018

Anjan V Thakor

引用次数: 0

Abstract

I present a theory of organizational higher purpose in which, in addition to profits, the firms’ owners and employees care about a purpose that guides decisions but transcends business goals. This purpose sacrifices profits but serves a greater good that generates positive utility for the owners and employees. Some purpose-driven firms insure employees against layoffs and may pay employees more or less than firms not offering such insurance. Whether purpose-driven firms offering layoff insurance pay employees more or less than purpose-driven firms not offering this insurance depends on the owner’s purpose-linked utility relative to the employee’s. (D01, D21, D24, G03, G32)

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更高的目标、员工和企业

在这一理论中，除了利润之外，公司所有者和员工还关心一个指导决策但又超越商业目标的目的。这种目的牺牲了利润，但服务于更大的利益，为企业主和员工带来积极的效用。一些以目标为导向的企业为员工提供裁员保险，与不提供此类保险的企业相比，其支付给员工的薪酬可能更多，也可能更少。与不提供裁员保险的企业相比，提供裁员保险的目的驱动型企业支付给员工的薪酬是多是少，取决于企业所有者与目的挂钩的效用相对于员工的效用。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Review of Corporate Finance Studies BUSINESS, FINANCE-

CiteScore

17.80

自引率

1.80%

发文量

期刊介绍： The Review of Corporate Finance Studies (RCFS) is dedicated to publishing high-quality research in the expansive field of Corporate Finance. The journal seeks original contributions, reviewing papers based on their unique insights into Corporate Finance. This encompasses a wide spectrum, including a firm's interactions with stakeholders, capital markets, internal organization structure, compensation mechanisms, corporate governance, and capital management. RCFS also welcomes research in financial intermediation, financial institutions, microstructure, and the implications of asset pricing for Corporate Finance. The journal considers theoretical, empirical, and experimental papers for review.