Results

Journal article

Management Science:

How do chief executive officers make strategy?

We survey 262 chief executive officer (CEO) alumni of Harvard Business School and gather evidence on three aspects of each executive?s strategy practice: how formalized it is, how it is developed, and how it is implement...Read more...

Journal article

The Economic Journal:

Non-compete agreements, wages and efficiency: theory and evidence from Brazilian football

The Pele Act banned non-compete agreements in Brazilian football in 1998. We explore this policy change to study how non-competes affect the labour market. The Act changed the wage profile heterogeneously, reducing young...Read more...

Journal article

Management Science:

Communication within firms: evidence from CEO turnovers

This paper uses novel, firm-level communication measures derived from communications metadata several months before and after a CEO transition for 102 firms to study whether and how this organizational event is reflected...Read more...

Blog

What Works Centre for Local Economic Growth:

Lessons for business support schemes from a large RCT in the UK

Productivity in the UK is stagnant and improving firm performance a key policy objective. Almost a decade ago, the UK government undertook an ambitious randomised control trial - the Growth Vouchers Programme - which pro...Read more...

CentrePiece article

In brief... How Pele changed Brazilian football

A ban on non-compete agreements in Brazilian football led to an increased lifetime income for players. But as research by Bernardo Guimaraes, Jo?o Paulo Pessoa and Vladimir Ponczek reveals, it was older players who gaine...Read more...

Journal article

Labour Economics:

Teacher turnover: effects, mechanisms and organisational responses

This paper contributes to the understanding of the causal relationship between teacher turnover and student performance. We extend this research by examining the mechanisms through which turnover affects student learning...Read more...

Journal article

Journal of the European Economic Association:

CEO pay and the rise of relative performance contracts: a question of governance?

We exploit the large rise in relative performance awards in the United Kingdom over the last two decades to investigate whether these contracts improve the alignment between CEO pay and firm performance. We first documen...Read more...

CEP discussion paper

Communication within firms: evidence from CEO turnovers

This paper uses novel, firm-level measures derived from communications metadata before and after a CEO transition in 102 firms to study if CEO turnover impacts employees' communication flows. We find that CEO turnover le...Read more...

CEP discussion paper

Non-compete agreements, wages and efficiency: theory and evidence from Brazilian football

We propose a model to study non-compete agreements and evaluate their quantitative effects. We explore an exogenous policy change that removed non-compete clauses in the market for Brazilian footballers, the Pele Act of ...Read more...

Journal article

Journal of Political Economy:

CEO behavior and firm performance

We measure the behavior of over 1,100 CEOs in six countries (Brazil, France, Germany, India, UK and US) using a new methodology that combines (i) a survey measuring each activity undertaken in a random work-week by the e...Read more...

Journal article

The Review of Financial Studies:

Managing the family firm: evidence from CEOs at work

We build a comparable and bottom-up measure of CEO labor supply for 1,114 CEOs and investigate whether family and professional CEOs differ along this dimension. Family CEOs work 9% fewer hours relative to professional CE...Read more...

CEP discussion paper

Does gentrification displace poor households? An 'identification-via-interaction' approach

My theoretical model motivates an `identification-via-interaction? (IvI) approach that separates the causal impact of gentrification on poor exits from endogenous channels. In the empirical analysis, I create a measure o...Read more...

CentrePiece article

Family firms: the problem of second-generation bosses

Although family firms are widely praised as the `backbone of the economy?, their productivity is often hampered by weak management. Research by Daniela Scur and Renata Lemos provides new evidence on the performance of `d...Read more...

CEP discussion paper

Teacher turnover: does it matter for pupil achievement?

We add to a small literature examining whether teacher turnover affects academic achievement, focussing on age-16, state secondary school students, using a unique dataset of linked students and teachers in England. We ad...Read more...

CEP discussion paper

All in the family? CEO choice and firm organization

Family firms are the most prevalent firm type in the world, particularly in emerging economies. Dynastic family firms tend to have lower productivity, though what explains their underperformance is still an open question...Read more...

CentrePiece article

Does teacher turnover affect young people's academic achievement?

Do educational results suffer in schools where there is a high turnover among the teaching staff? Shqiponja Telhaj and colleagues explore this question by analysing data from all state secondary schools in England....Read more...

CEP discussion paper

CEO pay and the rise of relative performance contracts: a question of governance?

Would moving to relative performance contracts improve the alignment between CEO pay and performance? To address this, we exploit the large rise in relative performance awards and the share of equity pay in the UK over ...Read more...

CentrePiece article

Family business: management effort and firm performance

Might familyowned, familyrun firms be a serious obstacle to productivity growth in Europe? Oriana Bandiera, Andrea Prat and Raffaella Sadun have collected time use data on over 1,000 chief executive officers to explore d...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Neighbourhood Turnover and Teenage Attainment

Theories about neighbours? influence on children based on social capital, cohesion and disorganisation stress the importance of neighbourhood stability. However, amongst the vast number of studies on the effect of neighb...Read more...

CEP discussion paper

Political competition and the limits of political compromise

We consider an economy where competing political parties alternate in office. Due to rent-seeking motives, incumbents have an incentive to set public expenditures above the socially optimum level. Parties cannot commit t...Read more...

CEP discussion paper

Managing the family firm: evidence from CEOs at work

We present evidence on the labor supply of CEOs, and on whether family and professional CEOs differ on this dimension. We do so through a new survey instrument that allows us to codify CEOs? diaries in a detailed and com...Read more...

CEP discussion paper

CEO Incentive Contracts in China: Why Does City Location Matter?

CEO incentive contracts are commonplace in China but their incidence varies significantly across Chinese cities. We show that city and provincial policy experiments help explain this variance. We examine the role of two ...Read more...

CEP occasional paper

Extreme wage inequality: pay at the very top

We provide new evidence on the growth in pay at the very top of the wage distribution in the UK. Sectoral decompositions show that workers in the financial sector have accounted for the majority of the gains at the top o...Read more...

CEP occasional paper

What do we know about China's CEO's? Evidence from across the whole economy

All that we know about the CEO labour market in China comes from studies of public listed companies and state-owned enterprises (SOEs). This paper is the first to examine the operation of the CEO labour market across all...Read more...

CEP discussion paper

The CEO Labour Market in China's Public Listed Companies

Using panel data for all of China?s public listed firms over the period 2001-2010 we examine how firms have recruited and rewarded their executives over a decade of huge growth and turbulence. CEO pay is sensitive to fir...Read more...

CentrePiece article

In brief... UK chief executives: paid for performance?

Does it matter whether you work for a successful company? And if so, does it matter who you are? To answer these questions we construct a unique panel dataset covering the pay of all CEOs, senior managers and a fully rep...Read more...

CEP discussion paper

Span of Control and Span of Activity

For both practitioners and researchers, span of control plays an important role in defining and understanding the role of the CEO. In this paper, we combine organizational chart information for a sample of 65 companies w...Read more...

CEP discussion paper

CEO Bonding: Who Posts Performance Bonds and Why?

Despite their theoretical value in tackling principal-agent problems at low cost to firms there is almost no empirical literature on the prevalence and correlates of performance bonds posted by corporate executives. Usin...Read more...

CEP discussion paper

A Simple Theory of Managerial Talent, Pay Contracts and Wage Distribution

This paper develops a simple theory of pay structures and pay levels across heterogeneous agents by bringing together optimal contracts inside the firm and competitive resource allocation in the market. The central idea ...Read more...

CEP discussion paper

A Generalised Model of Monopsony

Recent research in labour economics (e.g. the work of Card and Krueger, 1995, on the impact of minimum wages) has led to renewed interest in the appropriate model to use when thinking about the labour market. But, the st...Read more...

CEP discussion paper

Fixed-Term Contracts and the Duration Distribution of Unemployment

In the mid-1980s, many European countries introduced fixed-term contracts. Since then their labor markets have become more dynamic. This paper studies the implications of such reforms for the duration distribution of une...Read more...

CEP discussion paper

Tenures that Shook the World: Worker Turnover in Russia, Poland and Britain

We study worker turnover in a transition economy to investigate to what extent the length of time a worker has been employed by a firm shapes the turnover process. Using data from the Polish Labour Force Survey and The R...Read more...