Does stardom affect job mobility?
Subtitle: evidence from analyst turnover in investment banks
By: Boris Groysberg, Ashish Nanda
Contributors: Nanda, Ashish; Harvard Business School. Division of Research
Series: Working paper / Division of Research, Harvard Business School -- 02-029; Working paper (Harvard Business School. Division of Research) -- 02-029
Publisher: Division of Research, Harvard Business School
Published: 2001
Place of publication: Boston
Language: eng
Number of pages: 43
Description: This study finds that, in aggregate, star analysts have lower turnover than non-stars. This is due, however, not to their stardom, but to demographic characteristics; stars tend to be older, more experienced, and have moved less than non-stars. Established stars are less likely than new stars to switch jobs. These results suggest that firm specificity of skills drives down established stars', and greater external recognition drives up newly ranked stars', turnover to competitors. We also find drivers of analyst turnover to vary by destination; turnover to competitors is driven by situational variables (department and firm characteristics), industry exit is not.
Notes: Includes bibliographical references.