What is the cost of retaining and attracting exceptional talents? Evidence from the Canada Research Chair program

Pascal Courty and John Sim

No 8966, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: The compensation of a professor who is awarded an internal Canada Research Chair (CRC) increases by 6.3 percent on average in our sample. This gain is large initially but quickly erodes over CRC tenure. The gain is slightly larger for professors who change university to obtain a CRC Chair. Assuming that the CRC program has achieved its goal of attracting and retaining top talents, we infer that the compensation cost of doing so is modest. In addition, only a small fraction of the CRC grants have been passed through to professors as compensation increases. This is despite the fact that universities report spending more than half of the CRC grants on chairholder compensation.

Keywords: Brain drain; Canada research chair; Compensation; Crowding out (search for similar items in EconPapers)
JEL-codes: I23 J3 (search for similar items in EconPapers)
Date: 2012-05
New Economics Papers: this item is included in nep-sog
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Citations: View citations in EconPapers (1)

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Working Paper: What Is The Cost Of Retaining And Attracting Exceptional Talents? Evidence From The Canada Research Chair Program (2012)
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