Note(s): This table presents regression results of the association between performance pressure and labor share among RM firms. The dependent variables are labor share (LS) and the logarithmically converted form of labor share (LN_LS). We use various independent variables to proxy for the performance pressure of RM firms. These variables include: (1) an indicator variable which equals 1 if the RM firm fails to achieve the performance target, and 0 otherwise (ACHIEVE1), (2) an indicator variable which equal 1 if the RM firm fails to achieve the performance target or just achieves the performance target within 5 percent, and 0 otherwise (ACHIEVE2) and (3) the amount of performance target in commitment divided by the book value of acquired assets (CTB). See Appendix A for variable definitions. The sample includes 223 RM firm observations during the commitment period. Year and firm fixed effects are included. The t-statistics based on robust standard errors clustered by firms are presented in parentheses beneath each estimate. ***, ** and * indicate two-tailed statistical significance at the 1%, 5% and 10% levels, respectively