| dc.contributor | 經濟系 | |
| dc.creator (作者) | 李浩仲 | |
| dc.creator (作者) | Cheng, Elisa Yu-Chun;Yang, Tzu-Ting;Han, Hsing-Wen;Li, Hao-Chung;Lee, Wen-Chieh | |
| dc.date (日期) | 2025-08 | |
| dc.date.accessioned | 14-Sep-2026 10:38:15 (UTC+8) | - |
| dc.date.available | 14-Sep-2026 10:38:15 (UTC+8) | - |
| dc.date.issued (上傳時間) | 14-Sep-2026 10:38:15 (UTC+8) | - |
| dc.identifier.uri (URI) | https://ah.lib.nccu.edu.tw/item?item_id=184927 | - |
| dc.description.abstract (摘要) | This paper investigates the causal relationship between employee compensation and turnover using the 2008 Taiwanese Expensing Employee Stock Bonus (EESB) policy as a natural experiment. The policy, which required stock bonuses to be expensed at market value, led to a substantial reduction in employee compensation. Leveraging comprehensive administrative data from all publicly listed firms in Taiwan and a difference-in-differences design, the results show that while the policy reduced compensation across the board, only the top 10% of highest-paid employees experienced a significant increase in turnover. Furthermore, using the EESB reform as an instrumental variable, we estimate an overall labor supply elasticity to individual firms as 0.05, with significant heterogeneity across the wage distribution. For the bottom 90% of the earners, the elasticity is just 0.04, while for the top 10%, it jumps to 2.1, indicating that firms have much stronger monopsony power over lower-paid workers. Finally, we find additional heterogeneity in labor supply elasticities along employee- and firm-level dimensions. | |
| dc.format.extent | 183810 bytes | - |
| dc.format.mimetype | application/pdf | - |
| dc.relation (關聯) | 2025 World Congress of the Econometric Society, The Econometrics Society | |
| dc.title (題名) | Compensation, Labor Mobility, and Monopsony: Evidence from a Compensation Shock in Taiwan | |
| dc.type (資料類型) | conference | |
