I already posted a link to the working paper, but the authors -- Ajay K. Agrawal, John McHale, Alexander Oett -- have posted a nice summary of their work on why hiring of stars is worthwhile:
Stars have direct impact on local economies. They can also indirectly affect growth in a positive way. This column examines the effect of academic star arrivals on the departmental knowledge productivity. Department-level output increases by 54% after the arrival of the star. The post-arrival quality of the joiners is also positively affected, displaying an increase of 68%. These star effects are largest at mid-ranked institutions.
0 Comments:
Post a Comment
Would you like to comment on this post (or, in response to one of the comments)? If so, please note:
1. This blog does not allow anonymous comments (any more), so please use an open-id account to comment.
2. Comments on posts older than 15 days go into a moderation queue, and may take some time to appear.
Thank you for joining the conversation. Have your say: