Long‐run peer effects and promotion: Evidence from 70‐plus years of career records in Japan
利用日本中央行政部门1946年至2019年的职业历史数据，研究发现入职前5年与未来高管共事的初级员工更可能晋升至高层，支持人力资本提升、社会关系形成和信息不对称减少等机制。
Abstract We estimate long‐term peer effects in the workplace by investigating whether working with a future executive makes junior employees more likely to be promoted. Using data on career history at the Japanese central administration from 1946 to 2019, we find that long‐term peer effects are substantial and persistent—junior employees who work with a future executive during the first 5 years of their employment are more likely to be promoted to top executive than employees who do not. The empirical results are consistent with the mechanisms of increased human capital, the formation of social connections, and a reduction in information asymmetry.