정보의 질과 임금 정책간의 관계 = The Relationship between Information Quality and Employee Wage Policy

다국어 초록 (Multilingual Abstract)

We study on the relationship between a labor wage policy and financial information quality using non-financial firms listed in KOSPI market over 1981 to 2017. According to many previous papers, they have provided two different conflicting results. First of all, it has found what financial information quality affects a negative effect to a labor wage. This means that as financial information quality decreases, the uncertainty of ability on a labor reward as labor wage increases and firm faces this type of risk. Therefore, employee demands the risk premium as the reward in terms of risk-reward contract. In contrast to this evidences, some papers posit that there is a positive effect in this relationship. In line with this hypothesis, Kleiner and Bouillon (1988) argue that firm managers have an advantage of information and high contract power. And also they do not want to share a private information to the employee for giving labor a pressure to accept small reward when they have a contract with the employee. This implies that the employee could not have a accuracy of information uncertainty with respect to the quality of financial information for predicting the firm’s earnings. Furthermore, this situation documents that decreasing the accuracy of financial information quality could have weaken the ability of bargaining power of labor as employee. As a result of this fact, we predict that as earning quality decreases, the employee wage also decreases. In this paper, we support that the financial information quality affects the positive to the employee wage.

참고문헌 (Reference)

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