Wingfield, R, Murphy, Kevin J, Gaywood, Martin
Najas flexilis (Willd.) Rostk. & Schmidt is a submerged annual macrophyte, rare in Europe, which is protected under the EC Habitats Directive. N. flexilis appears to be decreasing in the British...
The Ecology of Najas Flexilis. Scottish Natural Heritage Commissioned Report No. 017 (2004)
Wingfield, R A, Murphy, Kevin J, Hollingsworth, P, Gaywood, Martin J
Operational Noise Data for OH-58D Army Helicopters. (1998)
Benson, L. J., White, Micheal J., Murphy, Kevin J.
The Army needs helicopter noise source emission data for use in the Installation Compatible Use Zone (ICUZ) program and for environmental assessments. This research gathered noise source emission...
George Baker, Robert Gibbons, Kevin J. Murphy, Kevin Lang, George Milkovich, Kevin M. Murphy, ...
Incentive contracts often include important subjective components that mitigate incentive distortions caused by imperfect objective measures. This paper explores the combined use of subjective and...
UNDERPAID AND OVERWORKED: MEASURING THE EFFECT OF IMPERFECT INFORMATION ON WAGES (1992)
HOFLER, RICHARD A., MURPHY, KEVIN J.
This paper investigates the degree of shortfall between the wages workers earn and what they could earn assuming perfect or costless information in the labor market. We use the stochastic frontier...
GEOGRAPHIC DIFFERENCES IN U.S. UNEMPLOYMENT RATES: A VARIANCE DECOMPOSITION APPROACH (1985)
This paper analyzes the determinants of the geographic dispersion of unemployment rates. The model presented here recognizes that structural labor market relationships differ across areas and that...
Murphy, Kevin J. (Kevin Joseph)
Thesis (Ph. D.)--University of Southern California, 1983.
"This dissertation was fully funded by U.S. Department of Labor grant number DD-26-80-012"--P. iii.
Thesis (Ph. D.)--Michigan State University. Dept. of Economics, 1981.
Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence.
Gibbons, Robert, Murphy, Kevin J
This paper studies optimal incentive contracts when workers have career concerns--concerns about the effects of current performance on future compensation. The authors show that the optimal...
Delayed Rupture of the Left Ventricle After Mitral Valve Replacement: Report of Two Survivors
Murphy, Kevin J., Pluth, James R., McCulley, Harry, Matar, Adel F.
Two patients, a man and a woman, with rupture of the left ventricular wall after mitral valve replacement are described. The postoperative course of the woman was complicated by respiratory and renal...
Delayed Rupture of the Left Ventricle After Mitral Valve Replacement: Report of Two Survivors
Murphy, Kevin J., Pluth, James R., McCulley, Harry, Matar, Adel F.
Two patients, a man and a woman, with rupture of the left ventricular wall after mitral valve replacement are described. The postoperative course of the woman was complicated by respiratory and renal...
Managerial Capital and the Market for CEOs
This paper reconciles two pronounced trends in U.S. corporate governance: the increase in pay levels for top executives, and the increasing prevalence of appointing CEOs through external hiring...
Relative Performance Evaluation for Chief Executive Officers
Robert Gibbons, Kevin J. Murphy
Measured individual performance often depends on random factors which also affect the performances of other workers in the same firm, industry, or market. In these cases, relative performance...
The Prince and the Pauper? CEO Pay in the United States and United Kingdom.
Conyon, Martin J, Murphy, Kevin J
We document differences in CEO pay and incentives in the United States and the United Kingdom for 1997. After controlling for size, sector and other firm and executive characteristics, CEOs in the US...
Relative performance evaluation for chief executive officers.
Robert Gibbons, Kevin J. Murphy
Relative performance evaluation (RPE) provides employees with an incentive to perform well while insulating their compensation from shocks that also affect the performances of other workers in the...
Determinants of contract duration in collective bargaining agreements.
The author develops a model incorporating variables that previous studies have hypothesized as determinants of labor contract duration, then empirically tests the model using a data set containing...
Relative performance evaluation for chief executive officers.
Robert Gibbons, Kevin J. Murphy
Relative performance evaluation (RPE) provides employees with an incentive to perform well while insulating their compensation from shocks that also affect the performances of other workers in the...
Determinants of contract duration in collective bargaining agreements.
The author develops a model incorporating variables that previous studies have hypothesized as determinants of labor contract duration, then empirically tests the model using a data set containing...
Murphy, Kevin J., O. Ashenfelter, D. Card
This chapter summarizes the empirical and theoretical research on executive compensation and provides a comprehensive and up-to-date description of pay practices (and trends in pay practices) for...
The Trouble with Stock Options
Brian J. Hall, Kevin J. Murphy
The benefits of stock options are often not large enough to offset the inefficiency implied by the large divergence between the cost of options to companies and the value of options to risk-averse,...
This article analyzes properties and implications of multiperiod managerial labor contracts under two alternative hypotheses: incentives, in which productivity depends on unobservable effort, and...
Relational Contracts And The Theory Of The Firm
George Baker, Robert Gibbons, Kevin J. Murphy
Relational contracts-informal agreements sustained by the value of future relationships-are prevalent within and between firms. We develop repeatedgame models showing why and how relational contracts...
Subjective Performance Measures in Optimal Incentive Contracts.
Baker, George, Gibbons, Robert, Murphy, Kevin J
Incentive contracts often include important subjective components that mitigate incentive distortions caused by imperfect objective measures. This paper explores the combined use of subjective and...
Informal Authority in Organizations.
Baker, George, Gibbons, Robert, Murphy, Kevin J
We assert that decision rights in organizations are not contractible: the boss can always overturn a subordinate's decision, so formal authority resides only at the top. Although decision rights...
Underpaid and Overworked: Measuring the Effect of Imperfect Information on Wages.
Hofler, Richard A, Murphy, Kevin J
This paper investigates the degree of shortfall between the wages workers earn and what they could earn assuming perfect or costless information in the labor market. The authors use the stochastic...
Strategic alliances: Bridges between "islands of conscious power"
Baker, George P., Gibbons, Robert, Murphy, Kevin J.
Strategic alliances range from unstructured collaborations, through consortia and joint ventures that superimpose new governance structures on existing firms, to transactions that restructure firm...
The effect of industrial diversity on state unemployment rate and per capita income
This paper examines the effect of industrial diversification on state unemployment and per capita income. Diversification may provide a form of employment insurance to states during cyclic downturns....
Optimal Incentive Contracts in the Presence of Career Concerns: Theory and Evidence
Robert Gibbons, Kevin J. Murphy
This paper studies career concerns -- concerns about the effects of current performance on future compensation -- and describes how optimal incentive contracts are affected when career concerns are...
Does Executive Compensation Affect Investment?
Kevin J. Murphy, Robert Gibbons
Investment decisions require trading off current expenditures against future revenues. If revenues extend far enough into the future, the executives responsible for designing long-run investment...
Subjective Performance Measures in Optimal Incentive Contracts
George Baker, Robert Gibbons, Kevin J. Murphy
Objective measures of performance are seldom perfect. In response, incentive contracts often include important subjective components that mitigate incentive distortions caused by imperfect objective...
Implicit Contracts and the Theory of the Firm
George Baker, Robert Gibbons, Kevin J. Murphy
We analyze the role of implicit contracts' (that is, informal agreements supported by" reputation rather than law) both within firms, for example in employment relationships between them, for example...
Optimal Exercise Prices for Executive Stock Options
Brian J. Hall, Kevin J. Murphy
Although exercise prices for executive stock options can be set either below or above the grant-date market price, in practice virtually all options are granted at the money. We offer an economic...
Stock Options for Undiversified Executives
Brian J. Hall, Kevin J. Murphy
We employ a certainty-equivalence framework to analyze the cost and value of, and pay/performance incentives provided by, non-tradable options held by undiversified, risk-averse executives. We derive...
The Trouble with Stock Options
Brian J. Hall, Kevin J. Murphy
The trouble with options is that too many options are granted to too many people. Most options are granted below the top-executive level, and options are often an inefficient way to attract, retain...
Performance Pay and Top-Management Incentives.
Jensen, Michael C, Murphy, Kevin J
The authors' estimates of the pay-performance relation (including pay, options, stockholding, and dismissal) for chief executive officers indicate that CEO wealth changes $3.25 for every $1,000...
An analysis of the medical expense deduction under the U.S. income tax system
Serocki, James S., Murphy, Kevin J.
This article analyzes the medical expense deduction based on several years of Internal Revenue Service public use file detailed individual tax return data. The medical expense deduction is allowed by...