Existing management research has so far dealt with the consequences of labor turnover for established firms, but has not addressed its effect on young entrepreneurial businesses. In this paper I assess, both theoretically and empirically, the productivity effects of worker replacement in young...

Early-stage technology startups rely critically on talented scientists and engineers to commercialize new technologies. And yet, they compete with large technology firms to hire the best workers. Theories of ability sorting predict that high ability workers will choose jobs in established firms...

We present a model of startup acquisitions, which may give rise to inefficient "talent hoarding." We develop a model with two competing firms that can acquire and integrate (or "acquihire") a startup operating in an orthogonal market. Such an acquihire improves the competitiveness of the...

We explore whether the tendency for smaller firms to have fewer hierarchical layers explains the well-documented inverse correlation between firm size and the rate at which employees become business owners. Our analysis is based on a Swedish matched employer-employee dataset. Conditional on firm...

We document in two very different datasets an inverted U-shaped relationship between work experience and entrepreneurship among movers. The first dataset consists of 1,248, U.S. lawyers who were forced to seek alternative employment after the sudden dissolutions of their employers. The second...

Existing management research has so far dealt with the consequences of labor turnover for established firms, but has not addressed its effect on young entrepreneurial businesses. In this paper I assess, both theoretically and empirically, the productivity effects of worker replacement in young...

New firms do not yet have employees who can aid recruiting by referrals, but entrepreneurs can recruit workers they know to their startups--in effect making their own referrals. We consider new firms in Brazil's formal sector founded between 2002 and 2014, for which at least one founding owner...

New firms do not yet have employees who can aid recruiting by referrals, but entrepreneurs can recruit workers they know to their startups—in effect making their own referrals. We consider new firms in Brazil’s formal sector founded between 2002 and 2014, for which at least one founding...

Drawing from the literature on entrepreneurial overconfidence and M&As, we argue that founder CEO-managed firms perform worse than professional CEO-managed firms when they participate in M&A transactions. We test our predictions using a sample of acquisitions by newly listed US public firms from...