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research article
The Value Of Employee Retention: Evidence From A Natural Experiment
Younge, Kenneth A.
•
Marx, Matt
December 17, 2015
We estimate the firm-level returns to retaining employees using difference-in-differences analysis and a natural experiment where the enforcement of employee noncompete agreements was inadvertently reversed in Michigan. We find that noncompete enforcement boosted the short-term value of publicly traded companies by approximately 9%. The effect is increasing in local competition and growth opportunities, and offset by patenting.
Type
research article
Web of Science ID
WOS:000387407300006
Authors
Younge, Kenneth A.
•
Marx, Matt
Publication date
2015-12-17
Published in
Volume
25
Issue
3
Start page
652
End page
677
Peer reviewed
REVIEWED
EPFL units
Available on Infoscience
January 24, 2017
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