Can rank-order tournament theory or the late selection hypothesis be applied to Japanase large firms? -- Case studies in two Japanese large firms in the late 1990s --

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Can rank-order tournament theory or the late selection hypothesis be applied to Japanese large firms?This paper aims to discuss whether rank-order tournament theory (e.g.Bull et. al., 1987;Ehrenberg and Bognanno, 1990;Lazear and Rosen, 1981) or the late selection hypothesis (e.g.Drago and Garvey, 1998;Levine, 1991;Meyer 1991;Prendergast, 1992) can be applied to Japanese large firms.The balance of person-related wages and job-related wages in two Japanese large firms in the late 1990s will be considered.The author interviewed personnel managers of Rocket Parcel and Sun Steel (real names are disguised) in 1998.The information is from both interviews and the companiesʼ confidential documents in the year.The reason for the selection of the firms is as follows.In order to consider the typical wage systems of Japanese large firms, two very different firms were contrasted.These firms are different in terms of length of history, type of industry and methods of recruitment.Rocket Parcel is a parcel delivery firm which grew rapidly over the last three decades, while Sun Steel is a steel company with a long history.In Rocket Parcel, recruitment is not limited to new graduates, while managers rely on internal promotion.In sharp contrast, Sun Steel is heavily weighted towards recruitment of new graduates from high schools and universities.Moreover, these case studies offer insights into our research questions.Can rank-order tournament theory or the late selection hypothesis be applied to Japanese large firms?The rank-order tournament theory argues that the larger the prize (wage dispersion between a winner and a loser) the greater is the incen-1) 放送大学教授( 「社会と産業」コース) 放送大学研究年報 第34号(2016)15-25頁 Journal of The Open University of Japan, No. 34(2016)pp.15-25Can rank-order tournament theory or the late selection hypothesis be applied to Japanese large firms?─ Case studies in two Japanese large firms in the late 1990s ─

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