It is difficult to test the prediction that future career prospects create implicit effort incentives because … researchers cannot randomly “assign” career prospects to economic agents. To overcome this challenge, we use data from … professional soccer, where employees of the same club face different external career opportunities depending on their nationality …

It is difficult to test the prediction that future career prospects create implicit effort incentives because … researchers cannot randomly “assign” career prospects to economic agents. To overcome this challenge, we use data from … professional soccer, where employees of the same club face different external career opportunities depending on their nationality …

indicates that departed weak (strong) NPEs have worse (better) career outcomes, suggesting two simultaneous effects: 1) low … quality managers are weeded out by the firm, and 2) high quality managers leave because firms are unable to adjust their …