2021
DOI: 10.32890/mmj2021.25.3
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Competition and Ratchet Hypothesis: How Safe Are Manufacturing Companies in Sub-Saharan Africa?

Abstract: This study applied the conventional ratcheting notion that managers (agents) chose to restrict their performance because they anticipated that firms (principals) would respond to higher performance levels by raising targets or by cutting pay in a piece-rate labour environment. A cross-sectional panel model was developed to subject this baseline notion of ratcheting hypothesis to multi-period and ex-post competitive labour market environment, bearing in mind that there was information asymmetry to both parties.… Show more

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