G2TT
来源类型Discussion paper
规范类型论文
来源IDDP16064
DP16064 Managerial Talent and Managerial Practices: Are They Complements?
Audinga Baltrunaite; Giulia Bovini; Sauro Mocetti
发表日期2021-04-22
出版年2021
语种英语
摘要We examine the role of managerial talent and its interaction with managerial practices in determining firm performance. We build a matched firm-director panel dataset for the universe of limited liability companies in Italy, tracking individuals across different firms over time. We define managerial talent as management's capacity to boost firms' total factor productivity, estimated using a two-way fixed effects model. Combining the data with survey information on a representative sample of firms, we then document that our measure of talent correlates with ex-ante and ex-post indicators of ability, i.e. managers' educational attainment and their forecast precision with respect to the firm's future performance. Most important, we leverage information on the adoption of managerial practices within the firm to examine potential synergies between managerial talent and structured managerial practices, thus bridging two separate strands of the literature. While talent and structured practices do boost firm productivity on their own, there is evidence of complementarities between the two. These findings hold both in a cross-sectional setting and in a panel analysis that accounts for time-invariant firm heterogeneity. Overall, our results indicate that the effectiveness of managerial practices depends on managers' ability to implement them.
主题Organizational Economics
关键词Board of directors Managers Corporate governance Productivity Managerial practices
URLhttps://cepr.org/publications/dp16064-0
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/545042
推荐引用方式
GB/T 7714
Audinga Baltrunaite,Giulia Bovini,Sauro Mocetti. DP16064 Managerial Talent and Managerial Practices: Are They Complements?. 2021.
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