Stars in their Constellations: Great Person or Great Team?

Denisa Mindruta, Janet Bercovitz, Vlad Mares and Maryann P. Feldman
Additional contact information
Denisa Mindruta: HEC Paris
Janet Bercovitz: University of Colorado at Boulder
Vlad Mares: INSEAD
Maryann P. Feldman: Arizona State University (ASU)

No 1489, HEC Research Papers Series from HEC Paris

Abstract: Although much attention is accorded to Star performers, this paper considers the extent to which stars, themselves, benefit from the contribution of their collaborators' (the constellation). By considering stars, constellations, and the synergies between them, we address a key question: To what extent is collaboration performance driven by the great individual or by great constellations? We introduce a novel approach that employs a matching model to uncover the complementarities driving collaboration formation. We use formal value-capture theory to estimate the relative contribution of stars and constellations to joint value creation. Analyzing a sample of academic research collaborations, we document that stars' relative contribution exceeds that of their constellations in less than 15% of collaborations, while constellations provide a greater relative contribution in 9%. In most collaborations, neither party dominates: innovation is a collective endeavor driven equally by the star and the constellation. Joint value creation and relative contribution are explained by the subtle interplay between complementarities in joint work and the substitutability of collaborative parties in the market. Joint value creation increases with the strength of complementarities between parties in a match. Relative value creation, and hence dominance, increases with the substitutability of one's collaborative partner. Interestingly, joint value creation is greatest in collaborations where both stars and constellations offer bundles of rare attributes and where neither the star nor the constellation dominates.

Keywords: Teams; Star Scientists; Matching; Complementarities; Value creation; Value capture (search for similar items in EconPapers)
JEL-codes: M50 (search for similar items in EconPapers)
Pages: 48 pages
Date: 2023-11-17
References: Add references at CitEc
Citations:

Downloads: (external link)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4607139 Full text (text/html)

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:ebg:heccah:1489

DOI: 10.2139/ssrn.4607139

Access Statistics for this paper

More papers in HEC Research Papers Series from HEC Paris HEC Paris, 78351 Jouy-en-Josas cedex, France. Contact information at EDIRC.
Bibliographic data for series maintained by Antoine Haldemann ().