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Vanderbilt’s Owen School faculty combines academic prestige with the real-world experience of top practitioners in a uniquely intimate and collaborative learning environment. From global finance and marketing to specialized areas such as health care and HR, Owen students learn from among the world’s best and in the process build relationships that last a lifetime.



Research Seminars

The Option to Quit: The Effect of Employee Stock Options on Turnover

Paige Ouimet
University of North Carolina at Chapel Hill
Friday, Sep 26, 2014 at 10:30AM | Room Room 218, Owen Graduate School
ABSTRACT

 

Abstract

 

We show that in the years following a large broad-based employee stock option (BBSO) grant, employee turnover falls at the granting firm. We find evidence consistent with a causal relation by exploiting unexpected changes in the value of unvested options. A large fraction of the reduction in turnover appears to be temporary with turnover increasing in the 3

rd year following the year of the adoption of the BBSO plan. We also find that the effect of BBSO plans is larger at market leaders, identified as firms with high industry-adjusted market-to-book ratios, market share or industry-adjusted profit margins, as measured at the time of the grant.

Pacing work in knowledge intensive services in a non-stationary environment: Goal-gradient, Deadline and Fatigue

Sarang Deo
Indian School of Business
Tuesday, Oct 14, 2014 at 11:20AM | Room 204
ABSTRACT

There is a growing interest in understanding how work pace in service systems is regulated by workload. The main effect, found in lab experiments as well as field studies is that workers speed up in response to high amount of unfinished workload. We contribute to this literature by specifically investigating the role of fixed deadlines and goals associated with the overall workload in regulating work pace. We base our empirical study on a large operational and clinical dataset on patient appointments and visits in the outpatient department of a tertiary eye care hospital. While analyzing the performance across days, we do not find any evidence of speed up or slowdown in response to the goal (anticipated patient load). However, when investigating the performance within a day, we find that work pace increases as the distance to the goal reduces (goal-gradient effect) and as one approaches the end of the day (deadline effect). Further, we find that the goal-gradient effect is stronger closer to the deadline compared to farther from the deadline. In addition, we also uncover a fatigue effect - work pace reduces as the cumulative output increases - attributable to the knowledge intensity of the tasks. These results have implications for designing critical elements of service systems such as the length of the work shift and setting of intermediate goals during the course of a shift.

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