We propose a theory that emphasizes the role of managers for the production and allocation of human capital in firms. Managers invest time to train junior employees, and acquire information about the juniors' abilities that is valuable for job assignments. This dual role of managers matters...

Managers ("bosses") are central to the development and allocation of human capital in firms ("talent management") because they both train junior employees and acquire private information about the juniors' abilities. While a multi-divisional firm would want to allocate workers to jobs wherever...

We examine how firms adapt their organization when they go public. To conform with the requirements of public capital markets, we expect IPO firms to become more organized, making the firm more accountable and its human capital more easily replaceable. We find that IPO firms transform into a...

This paper explores theoretically and empirically potentially important yet often-neglectedlinkage between task coordination within the organization and the structure of organizationand bundling of HRMPs (Human Resource Management Practices). In so doing, we alsoprovide fresh insights on the...

We analyze how the top firms and managers from one market (industry or country) would compete with those from another, to develop an integrated market for talent. In our competitive matching model, in two distinct markets talent has general and market-specific human capital (GHC and M-SHC)...

We examine how firms adapt their organization when they go public. To conform with the requirements of public capital markets, we expect IPO firms to become more organized, making the firm more accountable and its human capital more easily replaceable. We find that IPO firms transform into a...