Compensation Policies and Performance: Empirical Evidence from Real-Estate Brokers in Taiwan

• Main Authors: Yu-ping Li, 李玉平
• Other Authors: Ruoh-Rong Yu
• Format: Others
• Language: zh-TW
• Published: 2002
• Online Access: http://ndltd.ncl.edu.tw/handle/62128339619039852640

碩士 === 淡江大學 === 產業經濟學系 === 90 === A distinguishing feature in Taiwan’s real estate brokerage industry is the coexistence of different payment regimes. In this paper, we analyze the choice of real estate brokers among various payment regimes empirically. In particular, we examine whether more able workers choose firms with higher bonus rates. Besides the self-selection effect cited above, we examine the incentive effect of bonus rates on the performance of workers.A simple theoretical model is constructed and testable hypotheses are thus derived. We estimate a three-regime switching regression model by employing the data set collected ourselves. The empirical results show that bonus rates have significant effects on the performance of workers. In addition, workers with more experience tend to choose firms with higher bonus rates. The above results confirm the existence of self-selection effect and incentive effect.