激励体系诱导企业的规模[文献翻译].doc

外文文献翻译译文 外文原文 原文：Induced Discrimination and Firm Size: Information vs Incentive Effects 正文 ABSTRACT. This paper characterizes the differences in incentives to respond adversely to the Civil Rights Act of 1991 CRA91 across firm size. I then empirically test the firm responses and compare them to the incentives. I find that responses across firm size match the incentive differences. Thus firms appear to be rational as well as fully informed. The most pronounced adverse response comes from large firms. Firms with more than 100 employees reversed a trend of increasing employment at a rate of 0.28 weeks worked per year prior to CRA91 to a trend of decreasing employment at a rate of )0.21 weeks per year. Since this group employs 63.7% of the workforce, this has a profound impact on opportunities for protected groups. JEL CLASSIFICATION: J7, L2. 1. Introduction Small businesses are considered to be a vital force in the United States economy, providing a mechanism for innovation, job creation and labor force mobility (US SBA, 1998, 1999, 2001), and serving as the backbone of full and free competition (Public Law 85–536). But it is also felt that small firms may be disadvantaged relative to large firms in accessing physical and financial markets and in accessing the policy making process (US SBA, 2001). The record certainly indicates that small firms incur some form of disadvantage. Studies consistently show high failure rates for new and small firms relative to their older and larger counterparts. Given the higher failure rates much of the economic contribution of small firms may come from firms who enter for a brief period then exit. It is unclear whether such transient participation is a good thing or bad thing for social welfare though at least one study is trying to tackle that question (Knott and Posen, 2004). Despite the fact that small firm contributions may come from transient firms and despite the fact that the economy enjoys the benefits in the presence of whateve