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Please use this identifier to cite or link to this item:
http://hdl.handle.net/2451/27858
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| Title: | Is a Higher Calling Enough? Incentive Compensation in the Church |
| Authors: | Yermack, David |
| Issue Date: | 2-Feb-2009 |
| Series/Report no.: | FIN-08-015 |
| 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 percent
of the incremental revenue from membership increases. The elasticity
between ministers’ pay and parish size is similar to the firm size
elasticity of compensation for public company CEOs. Among a range of
possible performance measures, those with the greatest informativeness
about pastoral effort are linked most closely to compensation. |
| URI: | http://hdl.handle.net/2451/27858 |
| Appears in Collections: | Finance Working Papers
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