| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14767 |
| DP14767 Careers in Finance | |
| Andrew Ellul; Marco Pagano; Annalisa Scognamiglio | |
| 发表日期 | 2020-05-15 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | The finance wage premium since the 1990s has arguably lured talent away from other industries. However, the allocation of talent is likely to respond to differences in career paths, not in wages at a given date. We use resume data to reconstruct the careers of 11,255 professionals in finance, high-tech and services from 1980 to 2017, and find that careers mostly develop within sectors. Careers in asset management feature higher and steeper pay profiles than those of employees in banking, insurance and non-finance, yet this career premium cannot be explained by higher risk. Labor market entry responds positively to career premia in asset management and high-tech, and these sectors are regarded as substitutes by potential entrants, consistently with high-tech competing with asset management in attracting talent. |
| 主题 | Financial Economics ; Labour Economics |
| 关键词 | Careers Hedge funds Asset managers Market discipline Scarring effects |
| URL | https://cepr.org/publications/dp14767-0 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543694 |
| 推荐引用方式 GB/T 7714 | Andrew Ellul,Marco Pagano,Annalisa Scognamiglio. DP14767 Careers in Finance. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
