Strategic human capital scholars are increasingly recognizing the importance of human capital scarcity for explaining individual and firm outcomes. This article focuses on scarce human capital in the top manager labor market?and in particular, patterns in which top managers and firms form employment relationships. This examination redirects strategic human capital scholarship in three important…
The extent to which CEOs influence firm performance is fundamental to scholarly understanding of how organizations work; yet, this linkage is poorly understood. Previous empirical efforts to examine the link between CEOs and firm performance using variance decomposition, while provocative, nevertheless suffer from methodological problems that systematically understate the relative impact of CEO…
We address the debate about whether firms should engage in socially responsible behavior by proposing a theoretical model in which the supply of and demand for socially responsible investment opportunities determine whether these activities will improve, reduce, or have no impact on a firm's market value. The theory shows that managers in publicly traded firms might fund socially responsible ac…