An Options-Based Model Of Career Mobility in Professional Service Firms
提出一个基于期权的模型，将专业服务公司的招聘视为对未来人力资本的投资，晋升视为行使期权，解释了为何公司会解雇未晋升但高效的员工。
Contemporary career mobility models do not fully explain up-or-out promotional systems in professional service firms (PSFs). We propose a PSF career mobility model, which represents hiring decisions as investments in options on future human capital acquisitions and promotions as exercise of those options. Promotional outcomes depend mainly on the development of employee's human capital and business conditions at the time of partnership consideration. The model explains seemingly paradoxical firm behavior, such as dismissal of nonpromoted but productive employees.