Star Turnover and the Value of Human Capital—Evidence from Broadway Shows

References

• Adams RB, Almeida H, Ferreira D (2005) Powerful CEOs and their impact on corporate performance. Rev. Financial Stud. 18(4):1403–1432.Crossref, Google Scholar
• Adams RB, Keloharju M, Knupfer S (2018) Are CEOs born leaders? Lessons from traits of a million individuals. J. Financial Econom. 130(2):392–408.Google Scholar
• Adler M (1985) Stardom and talent. Amer. Econom. Rev. 75(1):208–212.Google Scholar
• Baghai RP, Silva RC, Thell V, Vig V (2017) Talent in distressed firms: Investigating the labor costs of financial distress. Working paper, London Business School, London.Google Scholar
• Basuroy S, Chatterjee S, Ravid SA (2003) The impact of critics on the success and failure of motion pictures influencers vs. predictors. J. Marketing 67(October):103–117.Crossref, Google Scholar
• Bennedsen MF, Perez Gonzalez BMF, Wolfenzon D (2019) Do CEOs matter: Evidence from CEO hospitalization events. J. Finance. Forthcoming.Google Scholar
• Bernile GVB, Rau R (2017) What does not kill you will make you more risk loving: Early life disasters and CEO behavior. J. Finance 72(1):167–206.Crossref, Google Scholar
• Bertrand M, Schoar A (2003) Managing with style: The effect of managers on firm policies. Quart. J. Econom. 118(4):1169–1208.Crossref, Google Scholar
• Böhm MJ, Metzger D, Stromberg P (2017) 'Since you're so rich, you must be really smart': Talent and the finance wage premium. Riksbank Working paper, University of Bonn, Bonn, Germany.Google Scholar
• Brantley B (2015) Review: 'Finding Neverland,' a Broadway musical with Matthew Morrison. New York Times (April 15), https://www.nytimes.com/2015/04/16/theater/review-finding-neverland-a-broadway-musical-with-matthew-morrison.html.Google Scholar
• Cattani G, Ferriani S (2008) A core/periphery perspective on individual creative performance: Social networks and cinematic achievements in the Hollywood film industry. Organ. Sci. 19(6):824–844.Link, Google Scholar
• Celerier C, Vallee B (2017) Returns to talent and the finance wage premium. Working paper, Harvard Business School, Boston.Google Scholar
• Chetty RJ, Friedman JN, Rockoff JE (2014a) Measuring the impacts of teachers I: Evaluating bias in teacher value-added estimates. Amer. Econom. Rev. 104(9):2593–2632.Crossref, Google Scholar
• Chetty RJ, Friedman JN, Rockoff JE (2014b) Measuring the impacts of teachers II: Teacher value added and student outcomes in adulthood. Amer. Econom. Rev. 104(9):2633–2679.Crossref, Google Scholar
• Chisholm DC (1997) Profit sharing vs. fixed payment contracts—Evidence from the motion pictures industry. J. Law Econom. Organ. 13:169–201.Crossref, Google Scholar
• Chung KH, Cox RA (1994) A stochastic model of superstardom: An application of the Yule distribution. Rev. Econom. Statist. 76(4):771–775.Google Scholar
• De Vany A, Walls W (1999) Uncertainty in the movies: Can star power reduce the terror of the box office? J. Cultural Econom. 23(November):285–318.Google Scholar
• Einav L (2007) Seasonality in the U.S. motion picture industry. Rand J. Econom. 38(1):127–145.Crossref, Google Scholar
• Elberse A (2007) The power of stars: Do star actors drive the success of movies? J. Marketing 71(4):102–120.Crossref, Google Scholar
• Engelberg J, Fisman R, Hartzell JC, Parsons CA (2016) Human capital and the supply of religion. Rev. Econom. Statist. 98(3):415–442Google Scholar
• Fee CE, Hadlock CJ, Pierce JR (2013) Managers with and without style: evidence using exogenous variation. Rev. Financial Stud. 26(3):567–601.Crossref, Google Scholar
• Fehr T (2016) How scalpers made their millions with 'Hamilton.' New York Times (July 29), https://www.nytimes.com/2016/07/30/upshot/how-scalpers-make-their-millions-with-hamilton.html.Google Scholar
• Filson D, Havlicek J (2018) The performance of global film franchises: installment effects and extension decisions. J. Cultural Econom. 42(3):447–467.Google Scholar
• Gabaix X, Landier A (2008) Why has CEO pay increased so much? Quart. J. Econom. 123(1):49–100.Crossref, Google Scholar
• Gerard J (2014) Broadway box office: Alan Alda & Candice Bergen spike 'Love Letters.' Deadline (November 17), https://deadline.com/2014/11/love-letters-broadway-box-office-alan-alda-candice-bergen-1201286866/.Google Scholar
• Graham JSL, Qiu J (2012) Managerial attributes and executive compensation. Rev. Financial Stud. 25(1):144–186.Crossref, Google Scholar
• Groysberg B, Lee L-E, Nanda A (2008) Can they take it with them? The portability of star knowledge workers' performance. Management Sci. 54(7):1213–1230.Link, Google Scholar
• Hamlen W (1991) Superstardom in popular music: Empirical evidence Rev. Econom. Statist. 73(3):729–733.Google Scholar
• Hishon K (2016) Stage vs. screen: A comparison of acting techniques [blog]. Theatrefolk (February 1), https://www.theatrefolk.com/blog/stage-vs-screen-a-comparison-of-acting-techniques/.Google Scholar
• Isherwood C (2014) The music of 10,000 Nights. New York Times (August 17), http://www.nytimes.com/2014/08/18/theater/the-phantom-of-the-opera-retains-its-luster.html.Google Scholar
• John K, Ravid SA, Sunder J (2017) Performance and managerial turnover: Evidence from the career—Paths of film directors. J. Corporate Finance 44:425–439.Crossref, Google Scholar
• Kulmatitskiy N, Nygren LM, Nygren K, Simonoff JS, Cao J (2015) Survival of Broadway shows: An empirical investigation of recent trends. Comm. Statist. 1(2):114–124.Google Scholar
• MacDonald GM (1988) The economics of rising stars. Amer. Econom. Rev. 78(1):155–166.Google Scholar
• Malmendier U, Tate J (2009) Superstar CEOs. Quart. J. Econom. 124(4):1593–1638.Crossref, Google Scholar
• Matveyev E (2017) Sorting in the US corporate executive market. Working paper, University of Alberta, Alberta, Canada.Google Scholar
• McKenzie J (2012) The economics of movies—A literature survey. J. Econom. Surveys 26(1):42–70.Crossref, Google Scholar
• McKinley J (2002) And the stub is all yours. New York Times (May 19), https://www.nytimes.com/2002/05/19/arts/theater-the-tony-awards-and-the-stub-is-all-yours.html.Google Scholar
• Mollick E (2012) People and process, suits and innovators: The role of individuals in firm performance. Strategic Management J. 33:1001–1015.Crossref, Google Scholar
• Palia DS, Ravid SA, Reisel N (2008) Choosing to co-finance—An analysis of project specific alliances in the film industry. Rev. Financial Stud. 21(2):483–511.Crossref, Google Scholar
• Paulson M (2015) Actors' equity pushes for minimum wage, but not all members want it. New York Times (April 19), https://www.nytimes.com/2015/04/20/theater/actors-equity-pushes-for-a-minimum-wage-but-not-all-its-members-want-it.html.Google Scholar
• Ravid SA, (1999) Information blockbusters and stars—A study of the motion pictures industry. J. Bus. 72(4):463–492.Crossref, Google Scholar
• Rockoff J (2004) The impact of individual teachers on student achievement: Evidence from panel data. Amer. Econom. Rev. 94(2):247–252.Crossref, Google Scholar
• Rosen S (1981) The economics of superstars. Amer. Econom. Rev. 71(5):845–858.Google Scholar
• Schoar A, Zuo L (2017) Shaped by booms and busts: How the economy impacts CEO careers and management styles. Rev. Financial Stud. 30(5):1425–1456.Crossref, Google Scholar
• Shamsie J, Mannor M (2013) Looking inside the dream team: Probing into the contributions of tacit knowledge as an organizational resource. Organ. Sci. 24(2):513–529.Google Scholar
• Sorenson O, Waguespack DM (2006) Social structure and exchange—Self confirming dynamics in Hollywood. Admin. Sci. Quart. 51:560–589.Crossref, Google Scholar
• Tamny J (2015) Misguided political atacks on CEO Pay. Wall Street Journal (July 20), https://www.wsj.com/articles/misguided-political-attacks-on-ceo-pay-1437343542.Google Scholar
• Tervio M (2009). Superstars and mediocrity: Market failures in the discovery of talent. Rev. Econom. Stud. 72(2):829–850.Google Scholar