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This paper examines how pension plans affect employee behavior and firm performance. Theoretically, the impact of pensions on firm performance cannot be predicted. Firms with pensions should have lower turnover rates and more efficient retirement decisions; their employees will be less likely to shirk. On the other hand, pension compensation is not very closely linked to worker performance and there is some risk that turnover may fall too much. The evidence indicates that although wages do not seem to fall with pension compensation, profit rates are not affected by pension coverage. This suggests that pension coverage is associated with higher productivity, a proposition that is supported by indirect evidence on pensions, turnover, and productivity but not by direct tests of how pension coverage and productivity are correlated.

Pensions. --- Industrial efficiency. --- Labor productivity.

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Labor productivity --- Industrial productivity --- Productivité --- Productivité

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This paper offers some observations on employee crime, economic theories of crime, limits on bonding, and the efficiency wage hypothesis. We demonstrate that the simplest economic theories of crime predict that profit-maximizing firms should follow strategies of minimal monitoring and large penalties for employee crime. Finding overwhelming empirical evidence that firms expend considerable resources trying to detect employee malfeasance and do not impose extremely large penalties, we investigate a number of possible reasons why the simple model's predictions fail. It turns out that plausible explanations for firms large outlays on monitoring of employees also justify the payment of premium wages in some circumstances. There is no legitimate a priori argument that firms should not pay efficiency wages once it is recognized that they expend significant resources on monitoring.

Employee theft. --- Wages and labor productivity.

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Manufacturing industries --- -Industries --- Manufactures --- Labor productivity --- -Econometric models --- Econometric models. --- -Labor productivity --- Econometric models --- Industries --- Labor productivity&delete& --- Econometrie --- Suede --- Industrie --- 20e siecle

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Industrial economics --- Manufacturing technologies --- Labour economics --- Cotton textile industry --- Textile industry --- Labor productivity&delete& --- Case studies --- Labor productivity