TY  - RPRT
        AU  - Bogaard, Hein
AU  - Svejnar, Jan
        TI  - Incentive Pay and Performance: Insider Econometrics in a Multi-Unit Firm
        PY  - 2013/Dec/
        PB  - Institute of Labor Economics (IZA)
        CY  - Bonn
        T2  - IZA Discussion Paper
        IS  - 7800
        UR  - https://www.iza.org/publications/dp7800
        AB  - 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.
        KW  - banking
KW  - foreign ownership
KW  - incentives
KW  - endogeneity of HRM policies
KW  - insider econometrics
KW  - Central and Eastern Europe
        ER  -