Taylor Begley is an assistant professor of finance at the University of Kentucky's Gatton College of Business and Economics. His research interests include financial intermediation, financial regulation, and housing markets. Prior to joining the Gatton College of Business, he was an assistant professor of finance at London Business School and Washington University in St. Louis.
In new research, Taylor Begley, Peter Haslag, and Daniel Weagley find that when firms begin sharing a common director, there is a significant reduction in the number of employees that switch jobs between the two companies. The reduction is largest when the firms compete in the same labor market and for those employees who are most costly for firms to replace. The results show the link between overlapping board members and anticompetitive labor practices is a surprisingly widespread phenomenon.
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