Journal
RESEARCH POLICY
Volume 46, Issue 4, Pages 853-867Publisher
ELSEVIER
DOI: 10.1016/j.respol.2017.02.007
Keywords
Stars; Innovation; Peer effects; Spillovers; Recruiting
Categories
Funding
- Centre for Innovation and Entrepreneurship at the Rotman School of Management
- Kauffman Foundation
- Martin Prosperity Institute
- Social Sciences and Humanities Research Council of Canada
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The peer-effects literature highlights several distinct channels through which colleagues may affect individual and organizational performance. Building on this, we examine the relative contributions of different channels by decomposing the productivity effect of a star's arrival on (1) incumbents and (2) new recruits. Using longitudinal, university-level data, we report that hiring a star does not increase overall incumbent productivity, although this aggregate effect hides offsetting effects on related (positive) versus unrelated (negative) colleagues. However, the primary impact comes from an increase in the average quality of subsequent recruits, an effect that is most pronounced at non-highly-ranked institutions. We discuss the implications of our results for star-focused strategies to improve organizational performance. (C) 2017 Elsevier B.V. All rights reserved.
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