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Awards as compensation


Frey, Bruno S (2007). Awards as compensation. European Management Review, 4(1):6-14.

Abstract

Awards are non-material, extrinsic compensation taking the form of orders, medals, decorations and prizes. They have been widely used in monarchies and republics, private organizations, not-for-profit and profit-oriented firms. Nevertheless, they have so far not received much attention. This paper develops empirically testable hypotheses, analysing the determinants of the supply of awards. The hypotheses refer to the possibility of using awards, the effectiveness of awards, and the capacity to maintain the scarcity value of awards. As the number of awards bestowed cannot (at least so far) be measured adequately, empirical evidence is adduced by way of illustrative examples.

Awards are non-material, extrinsic compensation taking the form of orders, medals, decorations and prizes. They have been widely used in monarchies and republics, private organizations, not-for-profit and profit-oriented firms. Nevertheless, they have so far not received much attention. This paper develops empirically testable hypotheses, analysing the determinants of the supply of awards. The hypotheses refer to the possibility of using awards, the effectiveness of awards, and the capacity to maintain the scarcity value of awards. As the number of awards bestowed cannot (at least so far) be measured adequately, empirical evidence is adduced by way of illustrative examples.

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Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:2007
Deposited On:09 Jun 2008 14:38
Last Modified:05 Apr 2016 12:23
Publisher:Palgrave Macmillan
ISSN:1740-4754
Additional Information:This is a post-peer-review, pre-copyedit version of an article published in European Management Review. The definitive publisher-authenticated version (European Management Review 4(1):6-14, 2007) is available online at: http://www.palgrave-journals.com/emr/journal/v4/n1/abs/1500068a.html.
Publisher DOI:10.1057/palgrave.emr.1500068
Permanent URL: http://doi.org/10.5167/uzh-2536

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