{"title":"人才的价值","authors":"Nasim Sabah, Linh Thompson, Zuobao Wei","doi":"10.1111/fire.12411","DOIUrl":null,"url":null,"abstract":"We exploit Employment Non‐Discrimination Acts, Paid Family Medical Leave Acts, and Lilly Ledbetter Fair Pay Act as quasi‐natural experiments to study the value of talents. Our findings suggest that firms with larger capacity to secure and maintain talent pipelines enjoy higher valuations. We further identify a channel through which talents increase firm value: innovation. The value of talents is more significant among high innovation intensity industries in which talents exhibit their value most evidently. Our findings also indicate that talents are costly to obtain and replace.","PeriodicalId":47617,"journal":{"name":"FINANCIAL REVIEW","volume":null,"pages":null},"PeriodicalIF":2.6000,"publicationDate":"2024-08-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"The value of talents\",\"authors\":\"Nasim Sabah, Linh Thompson, Zuobao Wei\",\"doi\":\"10.1111/fire.12411\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"We exploit Employment Non‐Discrimination Acts, Paid Family Medical Leave Acts, and Lilly Ledbetter Fair Pay Act as quasi‐natural experiments to study the value of talents. Our findings suggest that firms with larger capacity to secure and maintain talent pipelines enjoy higher valuations. We further identify a channel through which talents increase firm value: innovation. The value of talents is more significant among high innovation intensity industries in which talents exhibit their value most evidently. Our findings also indicate that talents are costly to obtain and replace.\",\"PeriodicalId\":47617,\"journal\":{\"name\":\"FINANCIAL REVIEW\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":2.6000,\"publicationDate\":\"2024-08-15\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"FINANCIAL REVIEW\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.1111/fire.12411\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"FINANCIAL REVIEW","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1111/fire.12411","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
We exploit Employment Non‐Discrimination Acts, Paid Family Medical Leave Acts, and Lilly Ledbetter Fair Pay Act as quasi‐natural experiments to study the value of talents. Our findings suggest that firms with larger capacity to secure and maintain talent pipelines enjoy higher valuations. We further identify a channel through which talents increase firm value: innovation. The value of talents is more significant among high innovation intensity industries in which talents exhibit their value most evidently. Our findings also indicate that talents are costly to obtain and replace.
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