雇主主导与金融业工人收入

IF 1.9 Q2 BUSINESS, FINANCE

Review of Corporate Finance Studies Pub Date : 2024-07-25 DOI:10.1093/rcfs/cfae017

Wenting Ma

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引用次数: 0

摘要

美国金融体系中的几家大公司取得了巨大的经济收益。它们的主导地位使其与众不同，同时也引发了对压低工人收入的担忧。利用行政数据，本研究揭示了最大的金融公司支付给工人的工资比最小的同行平均高出 30.2%，大大超过了非金融行业 7.9% 的差距。即使在 2008 年危机期间或与高科技行业相比，这种规模与收入之间的正向关系在金融业中始终更为明显。有证据表明，大型金融企业的超额收益，加上其员工的抢手技能，解释了这种独特的关系。(JEL G20, J31, J42, L11, L12, L13)

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Employer Dominance and Worker Earnings in Finance

A few large firms in the U.S. financial system achieve substantial economic gains. Their dominance sets them apart while also raising concerns about the suppression of worker earnings. Utilizing administrative data, this study reveals that the largest financial firms pay workers an average of 30.2% more than their smallest counterparts, significantly exceeding the 7.9% disparity in nonfinance sectors. This positive size-earnings relationship is consistently more pronounced in finance, even during the 2008 crisis or compared to the high-tech sector. Evidence suggests that large financial firms’ excessive gains, coupled with their workers’ sought-after skills, explain this distinct relationship. (JEL G20, J31, J42, L11, L12, L13)

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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.