%0 Report
        %A Bogaard, Hein
%A Svejnar, Jan
        %T Incentive Pay and Performance: Insider Econometrics in a Multi-Unit Firm
        %D 2013
        %8 2013 Dec
        %I Institute of Labor Economics (IZA)
        %C Bonn
        %7 IZA Discussion Paper
        %N 7800
        %U https://www.iza.org/publications/dp7800
        %X We exploit organizational reforms in a foreign-owned bank in Central-East Europe to study the implementation of modern HRM policies in an emerging market context. We have branch-level data and use our knowledge of the process that led to the adoption of the reforms to implement two estimators that address endogeneity bias in a complementary fashion: an IV approach and Generalized Propensity Score estimation. Our results show that some of the reforms had a positive impact on productivity, but they also underscore the risks of quantity-based incentives where quality is important.
        %K banking
%K foreign ownership
%K incentives
%K endogeneity of HRM policies
%K insider econometrics
%K Central and Eastern Europe