Rising Through the Ranks: The Evolution of the Market for Corporate Executives, 1936–2003

Carola Frydman

Management Science, 2019, vol. 65, issue 11, 4951-4979

Abstract: I present new stylized facts on the market for managers over the twentieth century, utilizing a novel data set on managerial careers. From the 1930s to the mid-1970s, the level of executive pay, inequality among executives across and within firms, and mobility were low. These patterns have reversed since then. I document that an increase in the importance of general managerial human capital can account for this change. The level of general skills, measured by the type of education and occupational mobility of managers, correlate with higher pay and turnover. Other factors may have also contributed to these changes, but the labor market for managers has likely played an important role.

Keywords: finance: corporate finance; management; organizational studies: personnel (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (29)

Downloads: (external link)
https://doi.org/10.1287/mnsc.2018.3080 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:65:y:2019:i:11:p:4951-4979

Access Statistics for this article

More articles in Management Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().