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External recruitments and firm performance

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  • Pedro Martins
  • Francisco Lima

Abstract

In the context of tournament theory, and drawing on a panel data set of several firms and their employees, evidence is presented of a negative relationship between the share of external recruitments for top management positions and firm productivity.

Suggested Citation

  • Pedro Martins & Francisco Lima, 2006. "External recruitments and firm performance," Applied Economics Letters, Taylor & Francis Journals, vol. 13(14), pages 911-915.
  • Handle: RePEc:taf:apeclt:v:13:y:2006:i:14:p:911-915
    DOI: 10.1080/13504850500426129
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    References listed on IDEAS

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    1. Lazear, Edward P & Rosen, Sherwin, 1981. "Rank-Order Tournaments as Optimum Labor Contracts," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 841-864, October.
    2. Kong-Pin Chen, 2005. "External Recruitment as an Incentive Device," Journal of Labor Economics, University of Chicago Press, vol. 23(2), pages 259-278, April.
    3. Eriksson, Tor, 1999. "Executive Compensation and Tournament Theory: Empirical Tests on Danish Data," Journal of Labor Economics, University of Chicago Press, vol. 17(2), pages 262-280, April.
    4. Pedro Martins & Jim Jin, 2010. "Firm-level social returns to education," Journal of Population Economics, Springer;European Society for Population Economics, vol. 23(2), pages 539-558, March.
    5. Murphy, Kevin J., 1999. "Executive compensation," Handbook of Labor Economics,in: O. Ashenfelter & D. Card (ed.), Handbook of Labor Economics, edition 1, volume 3, chapter 38, pages 2485-2563 Elsevier.
    6. George Baker & Michael Gibbs & Bengt Holmstrom, 1994. "The Internal Economics of the Firm: Evidence from Personnel Data," The Quarterly Journal of Economics, Oxford University Press, vol. 109(4), pages 881-919.
    7. Francisco Lima & Mário Centeno, 2003. "The Careers of Top Managers and Firm Openness: Internal Versus External Labour Markets," Working Papers w200315, Banco de Portugal, Economics and Research Department.
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    1. repec:bla:intlab:v:156:y:2017:i:1:p:113-131 is not listed on IDEAS

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