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Articles 1 - 4 of 4
Full-Text Articles in Law
The Economic (In) Significance Of Executive Pay Esg Incentives, David I. Walker
The Economic (In) Significance Of Executive Pay Esg Incentives, David I. Walker
Faculty Scholarship
The hottest topic in corporate governance circles today involves company commitments to and pursuit of ESG (environmental, social, and governance) initiatives in addition to the traditional pursuit of profits. One facet of this debate has to do with how to motivate executives to pursue ESG goals. Increasingly, companies tie executive pay to ESG performance, although even strong ESG advocates debate the advisability of doing so. This Article joins the fray by closely examining ESG-based CEO pay arrangements at a subset of companies with leadership positions on the Business Roundtable, an industry trade group that embraced ESG in a 2019 statement …
The Remainder Effect: How Automation Complements Labor Quality, James Bessen, Erich Denk, Chen Meng
The Remainder Effect: How Automation Complements Labor Quality, James Bessen, Erich Denk, Chen Meng
Faculty Scholarship
This paper argues that automation both complements and replaces workers. Extending the Acemoglu-Restrepo model of automation to consider labor quality, we obtain a Remainder Effect: while automation displaces labor on some tasks, it raises the returns to skill on remaining tasks across skill groups. This effect increases between-firm pay inequality while labor displacement affects within-firm inequality. Using job ad data, we find firm adoption of information technologies leads to both greater demand for diverse skills and higher pay across skill groups. This accounts for most of the sorting of skills to high paying firms that is central to rising inequality.
Escaping The Allure Of Joint Employment: Using Fault-Based Principles To Impose Liability For The Denial Of Employee Statutory Rights, Michael C. Harper
Escaping The Allure Of Joint Employment: Using Fault-Based Principles To Impose Liability For The Denial Of Employee Statutory Rights, Michael C. Harper
Faculty Scholarship
Using joint employment alone to impose liability requires an extension of the strict imputed liability theory embodied in respondeat superior. Employers, including incorporated businesses, under the common law are strictly liable for harms to their employees, as they are for harm to third parties, because of actions of their agents or other employees taken within the scope of their employment. The liability is strict because it does not depend on a finding that the employer, the principal, was negligent or otherwise at fault. Expanding liability through joint employment, even if based on a demonstration of joint control of statutorily protected …
Should Labor Abandon Its Capital? A Reply To Critics, David H. Webber
Should Labor Abandon Its Capital? A Reply To Critics, David H. Webber
Faculty Scholarship
Several recent works have sharply criticized public pension funds and labor union funds (“labor’s capital”). These critiques come from both the left and right. Leftists criticize labor’s capital for undermining worker interests by funding financialization and the growth of Wall Street. Laissez-faire conservatives argue that pension underfunding threatens taxpayers. The left calls for pensions to be replaced by a larger social security system. The libertarian right calls for them to be smashed and scattered into individually-managed 401(k)s. I review this recent work, some of which is aimed at my book, The Rise of the Working-Class Shareholder: Labor’s Last Best Weapon, …