Death and Turmoil in R&D Teams

Ã…stebro, Thomas, Olof Ejermo and Otto Toivanen
Authors registered in the RePEc Author Service: Thomas Astebro

No 18578, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: We use a novel method to define the R&D team and use the unexpected death of an R&D worker to study its effect on the organization of R&D teams in profit-making firms. Average treatment effects on exit probability, entry probability, wages of stayers, and characteristics of leavers are null. Hires are slightly younger in treatment than control. Treatment effects do not vary by the size of the R&D team but vary in interesting ways by the characteristics of the deceased and with job market liquidity. Results suggest weak complementarity of personnel and almost perfect substitution of talent in business R&D. Management appears able to quickly adjust the team to the shock.

JEL-codes: J24 J30 J41 O31 O32 (search for similar items in EconPapers)
Date: 2023-11
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