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Is a Higher Calling Enough? Incentive Compensation in the ChurchJay C. HartzellUniversity of Texas at Austin - Department of Finance Christopher A. ParsonsUniversity of California, San Diego (UCSD) David YermackNYU Stern School of Business February 8, 2010 Journal of Labor Economics, Forthcoming Abstract: We study the compensation and productivity of more than 2,000 Methodist ministers in a 43-year panel data set. The church appears to use pay-for-performance incentives for its clergy, as their compensation follows a sharing rule by which pastors receive approximately 3% of the incremental revenue from membership increases. Ministers receive the strongest rewards for attracting new parishioners who switch from other congregations within their denomination. Monetary incentives are weaker in settings where ministers have less control over their measured performance.
Number of Pages in PDF File: 40 Keywords: Compensation, Incentives, Churches, Religion JEL Classification: G30, J30, J33, J45 working papers seriesDate posted: November 19, 2008 ; Last revised: February 28, 2010Suggested CitationContact Information
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