Star power: colleague quality and turnover

Boris Groysberg and Linda-Eling Lee

Industrial and Corporate Change, 2010, vol. 19, issue 3, 741-765

Abstract: In this article, we argue that the existence of greater organizational resources, in the form of higher quality colleagues, acts as a retention mechanism. We test our hypotheses using a panel data set of securities analysts in 24 securities firms over a 9-year period. Results show that analysts working with higher quality colleagues are less likely to turnover. Analyst turnover is affected by the performance of two types of colleagues: colleagues within one's group and colleagues in the client-facing role. This "colleague effect" applies to analyst turnover to competitor firms and not to analysts who exit the securities analysts industry. Copyright 2010 The Author 2010. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Date: 2010
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