What is the cost of retaining and attracting exceptional talents? Evidence from the Canada Research Chair program
AbstractThe compensation of a professor who is awarded an internal Canada Research Chair (CRC) increases by 6.3 percent on average in our sample. This gain is large initially but quickly erodes over CRC tenure. The gain is slightly larger for professors who change university to obtain a CRC Chair. Assuming that the CRC program has achieved its goal of attracting and retaining top talents, we infer that the compensation cost of doing so is modest. In addition, only a small fraction of the CRC grants have been passed through to professors as compensation increases. This is despite the fact that universities report spending more than half of the CRC grants on chairholder compensation.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8966.
Date of creation: May 2012
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- Pascal Courty & John Sim, 2012. "What is the cost of retaining and attracting exceptional talents? Evidence from the Canada Research Chair program," Working Papers 1294, Queen's University, Department of Economics.
- I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions
- J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
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