Abstract: We develop theory and findings on the effects of competitive intensity in the labor market, based on variation in the specific companies that a focal firm recruits from. Drawing on value based strategy theories, we develop a theory of wages in a market with heterogeneous firms matching heterogeneous workers. Our arguments suggest that companies that are more central to the hiring network and those that hire more workers will need to pay higher wages, while those that hire from a wider diversity of industries will pay lower wages. We test these arguments using unique data from a careers survey of MBA alumni. These data allow us to create the network of firms hiring such workers from one another and to determine what wages they pay.

Abstract: This study examines whether corporate social responsibility (CSR) acts as a remedy for moral hazard in the workplace. To obtain exogenous variation in employees' propensity to engage in moral hazard, we exploit a natural experiment provided by large increases in state-level unemployment insurance (UI) benefits. Higher UI benefits render the threat of termination less effective and hence increase employees' incentives to shirk. Using a difference-in-differences methodology, we find that companies react to increases in UI benefits by increasing their employee-related CSR. This finding supports the view that CSR is a valuable resource that allows companies to motivate their employees. We further provide evidence that the increase in CSR is larger for companies operating in industries that are more labor intensive and more competitive.

Abstract: This paper investigates how the domestic growth of emerging market firms are affected by the mobility of human capital from foreign firms based in more developed markets. Empirical results based on a sample of local firms in the Zhongguanchu Science Park, Beijing in China show that hiring former foreign firm employees enhances local firms’ growth in local sales, and this positive impact decreases as the local firms grow in age and size. Further, hiring former employees of foreign firms from their local subsidiaries generates a lower growth impact than hiring from their headquarters or other foreign subsidiaries. The finding suggest that the consequence of international employee mobility should depend on the characteristics of the hiring firms and the hired foreign-experienced employees.

Abstract: We use proprietary global search firm data capturing compensation levels of executives to investigate the compensation impact of prior general management experience. Our preliminary findings suggest prior general management experience is valued by those firms hiring executives from the outside. Executives with more years of general management experience are paid more, controlling for industry, firm, and job characteristics, as well as measures of accumulated human capital. The benefit of such work experience differs by situation. The linkage between general management experience and compensation is particularly salient for executives switching jobs over industry and country boundaries. We provide initial findings on contextual determinants of how general management human capital is valued and outline a path forward for developing richer insights.