Co-Worker Complemetarity and the Stability of Top Management Teams

We investigate the hypothesis that complementarities across co-workers (which may arise from matching or investments in specific skills) affect the value of employment relationships between senior executives and firms. We analyze the changes in the composition of top management teams when a key member of the team (the CEO) departs. Our empirical analysis establishes several facts that are consistent with co-worker complementarity being an important determinant of management team stability.

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Year of publication:	2004-03
Authors:	Oyer, Paul ; Hayes, Rachel M. ; Schaefer, Scott
Institutions:	National Bureau of Economic Research (NBER)

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Extent:	application/pdf
Series:	NBER Working Papers.
Type of publication:	Book / Working Paper
Notes:	LS LE published as Hayes, Rachel M., Paul Oyer and Scott Schaefer. "Coworker Complementarity Of The Stability Of Top-Management Teams," Journal of Law, Economics and Organization, 2006, v22(1,Apr), 184-212. Number 10350
Classification:	J44 - Professional Labor Markets and Occupations ; J63 - Turnover; Vacancies; Layoffs
Source:	RePEc - Research Papers in Economics

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