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Star power: colleague quality and turnover

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  • Boris Groysberg
  • Linda-Eling Lee

Abstract

In this article, we argue that the existence of greater organizational resources, in the form of higher quality colleagues, acts as a retention mechanism. We test our hypotheses using a panel data set of securities analysts in 24 securities firms over a 9-year period. Results show that analysts working with higher quality colleagues are less likely to turnover. Analyst turnover is affected by the performance of two types of colleagues: colleagues within one's group and colleagues in the client-facing role. This "colleague effect" applies to analyst turnover to competitor firms and not to analysts who exit the securities analysts industry. Copyright 2010 The Author 2010. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

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  • Boris Groysberg & Linda-Eling Lee, 2010. "Star power: colleague quality and turnover," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 19(3), pages 741-765, June.
    • Handle: RePEc:oup:indcch:v:19:y:2010:i:3:p:741-765
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    File URL: http://hdl.handle.net/10.1093/icc/dtp049
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    Cited by:

    1. Truc (Peter) Thuc Do & Huai Zhang, 2020. "Peer Effects among Financial Analysts," Contemporary Accounting Research, John Wiley & Sons, vol. 37(1), pages 358-391, March.
    2. Marta F. Arroyabe & Katrin Hussinger & John Hagedoorn, 2020. "Hiring New Key Inventors to Improve Firms’ Post-M&A Inventive Output," DEM Discussion Paper Series 20-19, Department of Economics at the University of Luxembourg.
    3. Reid, Colin D. & Youngman, Julie Furr, 2017. "New audit partner identification rules may offer opportunities and benefits," Business Horizons, Elsevier, vol. 60(4), pages 507-518.

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