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Research departments are managed by Directors of Research (DORs). Subordinate analysts working for higher quality DORs provide superior earnings forecasts that elicit stronger market reactions, better investment recommendations, and have better career outcomes. For the broker, higher quality...
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We examine how division managers' human capital affects internal capital allocation using a hand-collected data set of … divisional managers at S&P 1,500 firms. Based on a novel measure of division-manager ability, we show that more able division … managers receive substantially larger capital allocations. This effect is robust to controlling for the possibility of …
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This study seeks to disentangle the human capital and the social capital of directors to improve our understanding of the value that directors bring to their boardroom. Employing social network analysis (SNA) to measure the social capital of directors and using a unique and comprehensive sample...
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