Are Executives in Short Supply? Evidence from Death Events

Autor:	Sauvagnat, Julien, Schivardi, Fabiano
Rok vydání:	2023
Předmět:	Economics and Econometrics EXECUTIVE SUPPLY LOCAL GROWTH EXECUTIVE SUPPLY FIRM PERFORMANCE LOCAL GROWTH FIRM PERFORMANCE
Zdroj:	The Review of Economic Studies
ISSN:	1467-937X 0034-6527
DOI:	10.1093/restud/rdad027
Popis:	Using exhaustive administrative data on Italian social security records, we construct measures of local labour market thickness for executives that vary by industry and location. We show that firm performance is strongly and persistently affected by executive death, but only in thin local labour markets. The new executives hired after death events in thin local labour markets have lower education levels and are more likely to be replaced. These predictions are consistent with a simple model of executive search in which market thickness determines the arrival rate of applications for executive positions.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_dedup___::39b372decf5feac76585d0b51434dafc https://doi.org/10.1093/restud/rdad027 Zobrazit plný text záznamu