?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F4073%2F&rft.title=Talents+from+Abroad.+Foreign+Managers+and+Productivity+in+the+United+Kingdom.&rft.creator=Exadactylos%2C+Dimitrios&rft.creator=Riccaboni%2C+Massimo&rft.creator=Rungi%2C+Armando&rft.subject=HB+Economic+Theory&rft.description=In+this+paper%2C+we+test+the+contribution+of+foreign+management+on+firms%E2%80%99+competitiveness.+We+use+a+novel+dataset+on+the+careers+of+165%2C084+managers+employed+by+13%2C106+companies+in+the+United+Kingdom+in+the+period+2009-2017.+We+find+that+a+domestic+manufacturing+firm+becomes+on+average+between+9%25+and+12%25+more+productive+after+hiring+at+least+one+foreign+manager.+Interestingly%2C+productivity+gains+by+domestic+firms+after+recruiting+foreign+managers+are+similar+in+magnitude+to+gains+after+foreign+acquisitions+as+from+previous+literature.+Eventually%2C%0D%0Awe+do+not+find+significant+gains+by+foreign-owned+firms+hiring+foreign+managers.%0D%0AOur+identification+strategy+combines+difference-in-difference+and+matching+techniques+to+challenge+reverse+causality.+We+proxy+firms%E2%80%99+competitiveness+either+by+total+factor+productivity+or+by+technical+efficiency+derived+from+stochastic+frontier+analyses.+Eventually%2C+we+argue+that+limits+to+the+circulation+of+talents%2C+as+for+example+in+case+of+a+Brexit+event%2C+may+hamper+the+allocation+of+labor+productive+resources.&rft.date=2019-12-16&rft.type=Working+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.rights=cc_by_nc_nd&rft.identifier=http%3A%2F%2Feprints.imtlucca.it%2F4073%2F1%2FWP%2520EIC%25201_2019.pdf&rft.identifier=++Exadactylos%2C+Dimitrios+and+Riccaboni%2C+Massimo+and+Rungi%2C+Armando++Talents+from+Abroad.+Foreign+Managers+and+Productivity+in+the+United+Kingdom.++EIC+working+paper+series++%231%2F2019+++++ISSN+2279-6894.++++++