Advanced Search
MyIDEAS: Login to save this paper or follow this series

Can They Take it With Them? The Portability of Star Knowledge Workers' Performance: Myth or Reality?

Contents:

Author Info

  • Boris Groysberg
  • Ashish Nanda
Registered author(s):

    Abstract

    This paper examines the portability of star security analysts’ performance. Analysis from a panel data set of research analysts in investment banks over 1988-1996 reveals that star analysts who switch employers show an immediate decline in performance, which persists for at least five years. This decline in performance is most pronounced for star analysts who move to lower-rated firms (downward movement) and star analysts who move without other members of their team (solo). Star analysts who move between two similar firms (lateral movement) also exhibit a drop in their performance but only for two years. These findings suggest the value of firm-specific and team-specific skills, as well as the impact of firms’ capabilities on star analysts’ performance. In fact, if skill specificity exists for one of the most likely professions to qualify for the free agent status (star security analysts), then it is likely to be present for many others. The extent to which the analysts’ skills are firm-specific, and therefore a source of competitive advantage, varies across firms. Moreover, the findings suggest that investors do not view the announcement of star analyst departures as value-enhancing or value-reducing for the exiting firms.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Paper provided by Econometric Society in its series Econometric Society 2004 North American Winter Meetings with number 465.

    as in new window
    Length:
    Date of creation: 11 Aug 2004
    Date of revision:
    Handle: RePEc:ecm:nawm04:465

    Contact details of provider:
    Phone: 1 212 998 3820
    Fax: 1 212 995 4487
    Email:
    Web page: http://www.econometricsociety.org/pastmeetings.asp
    More information through EDIRC

    Related research

    Keywords: labor economics; personnel economics; teams; incentives;

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ecm:nawm04:465. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christopher F. Baum).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.