Does stardom affect job mobility?

evidence from analyst turnover in investment banks

Edición de la obra Does stardom affect job mobility?

This study finds that, in aggregate, star analysts have lower turnover than non-stars. This is due, however, not to their stardom, but to demographic characteristics; stars tend to be older, more experienced, and have moved less than non-stars. Established stars are less likely than new stars to switch jobs. These results suggest that firm specificity of skills drives down established stars', and greater external recognition drives up newly ranked stars', turnover to competitors. We also find drivers of analyst turnover to vary by destination; turnover to competitors is driven by situational variables (department and firm characteristics), industry exit is not.