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Death and Turmoil in R&D Teams

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  • Ã…stebro, Thomas
  • Ejermo, Olof
  • Toivanen, Otto

Abstract

We use a novel method to define the R&D team and use the unexpected death of an R&D worker to study its effect on the organization of R&D teams in profit-making firms. Average treatment effects on exit probability, entry probability, wages of stayers, and characteristics of leavers are null. Hires are slightly younger in treatment than control. Treatment effects do not vary by the size of the R&D team but vary in interesting ways by the characteristics of the deceased and with job market liquidity. Results suggest weak complementarity of personnel and almost perfect substitution of talent in business R&D. Management appears able to quickly adjust the team to the shock.

Suggested Citation

  • Ã…stebro, Thomas & Ejermo, Olof & Toivanen, Otto, 2023. "Death and Turmoil in R&D Teams," CEPR Discussion Papers 18578, C.E.P.R. Discussion Papers.
    • Handle: RePEc:cpr:ceprdp:18578
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    More about this item

    JEL classification:

    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • J30 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - General
    • J41 - Labor and Demographic Economics - - Particular Labor Markets - - - Labor Contracts
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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