Star Power: Colleague Quality and Turnover

Posted: 4 Jun 2010

Date Written: June 2010


In this article, we argue that the existence of greater organizational resources, in the form of higher quality colleagues, acts as a retention mechanism. We test our hypotheses using a panel data set of securities analysts in 24 securities firms over a 9-year period. Results show that analysts working with higher quality colleagues are less likely to turnover. Analyst turnover is affected by the performance of two types of colleagues: colleagues within one’s group and colleagues in the client-facing role. This “colleague effect” applies to analyst turnover to competitor firms and not to analysts who exit the securities analysts industry.

Suggested Citation

Groysberg, Boris and Lee, Linda-Eling, Star Power: Colleague Quality and Turnover (June 2010). Industrial and Corporate Change, Vol. 19, Issue 3, pp. 741-765, 2010, Available at SSRN: or

Boris Groysberg (Contact Author)

Harvard Business School ( email )

Soldiers Field
Boston, MA 02163
United States
617-496-2784 (Phone)
617-496-5271 (Fax)

Linda-Eling Lee

MSCI Inc. ( email )


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