Co-Worker Complemetarity and the Stability of Top Management Teams

Rachel M. Hayes, Paul Oyer () and Scott Schaefer

No 10350, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: We investigate the hypothesis that complementarities across co-workers (which may arise from matching or investments in specific skills) affect the value of employment relationships between senior executives and firms. We analyze the changes in the composition of top management teams when a key member of the team (the CEO) departs. Our empirical analysis establishes several facts that are consistent with co-worker complementarity being an important determinant of management team stability.

JEL-codes: J44 J63 (search for similar items in EconPapers)
Date: 2004-03
Note: LS LE
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Published as Hayes, Rachel M., Paul Oyer and Scott Schaefer. "Coworker Complementarity Of The Stability Of Top-Management Teams," Journal of Law, Economics and Organization, 2006, v22(1,Apr), 184-212.

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Related works:
Journal Article: Coworker Complementarity and the Stability of Top-Management Teams (2006)
Working Paper: Co-worker Complementarity and the Stability of Top Management Teams (2005)
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