Gilje, Erik; Taillard, Jérôme; Zeng, Linghang - 2021
as both individual-level and firm-level productivity metrics. We find that human capital exits firms after a negative … idiosyncratic shock. Specifically, we find that more productive players move to more productive clubs and maintain their long …-term productivity. They get replaced with lower productivity players. Overall, our results show that in a setting with highly …