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The effect of competition on manager's compensation : evidence from a quasi-nat...
Fernandes, Ana P.; Ferreira, Priscila; Winters, L. AlanThis paper studies the effect of competition on executive compensation. We estimate the effect of increased product market competition on the performance-pay sensitivity of CEOs, and contrast it with the effect for department managers and other workers in the corporation. We use a recent reform that simplied firm entry regulation in Portugal as a quasi-natural experiment. The empirical strategy exploits the sta...
Firm entry deregulation, competition and returns to education and skill
Ferreira, Priscila; Fernandes, Ana P.; Winters, L. AlanThis paper studies the effect of firm entry deregulation on the returns to skill and education. We use matched employer-employee data for the universe of workers and firms in Portugal and exploit a comprehensive episode of entry deregulation, unique in the industrialized world, as a quasi-natural experiment to investigate how increased competition affects wages. We find that after the reform the returns to a un...
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