TY  - JOUR
AU  - Hayes,Rachel M.
AU  - Oyer,Paul
AU  - Schaefer,Scott
TI  - Co-Worker Complemetarity and the Stability of Top Management Teams
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 10350
PY  - 2004
Y2  - March 2004
UR  - http://www.nber.org/papers/w10350
L1  - http://www.nber.org/papers/w10350.pdf
N1  - Author contact info:
Paul Oyer
Graduate School of Business
Stanford University
518 Memorial Way
Stanford, CA 94305-5015
Tel: 650/736-1047
Fax: 650/725-0468
E-Mail: pauloyer@stanford.edu

Scott Schaefer
University of Utah
E-Mail: scott.schaefer@utah.edu
AB  - We investigate the hypothesis that complementarities across co-workers (which may arise from matching or investments in specific skills) affect the value of employment relationships between senior executives and firms. We analyze the changes in the composition of top management teams when a key member of the team (the CEO) departs. Our empirical analysis establishes several facts that are consistent with co-worker complementarity being an important determinant of management team stability.
ER  -