... merit pay, bonuses, and long- term incentives THE RELATIVE EFFECTS OF MERIT PAY, BONUSES, AND LONG- TERM INCENTIVES ON FUTURE JOB PERFORMANCE The logic behind pay-for -performance compensation is that ... Because of the restrictions on long- term incentives, Hypothesis predicted that the effect of bonuses would be stronger than the effect of long- term incentives The results support this 19 hypothesis ... THE RELATIVE EFFECTS OF MERIT PAY, BONUSES, AND LONG- TERM INCENTIVES ON FUTURE JOB PERFORMANCE SANGHEE PARK AND MICHAEL C STURMAN Cornell University School of Hotel Administration G-80-P...