스타 애널리스트의 조직 내 성과기여도에 관한 분석

초록

This study both theoretically and empirically analyzes the so-called, “overcompensation problem” for star analysts, one of the main issues raised during the global financial crisis of 07-08, in the consideration of individual contribution levels in proportion to the size of their organization, not just individual contribution levels. As a result, although theoretically recognized that a single star analyst is more capable than another at the personal level, it has shown that hiring multiple, ordinary analysts would be better for the overall organization. On the other hand, the empirical analysis using the Korean securities companies’ data and best analysts’ selections by two economic newspapers shows that while star analysts basically show a positive (+) effect on the organization's performance, the magnitude of the impact decreases as the size of the organization grows, showing that it supports some of the hypotheses derived from the theory. This finding could suggest that in the Korean securities industry, star analysts' impact on the overall company’s profitability is somewhat limited when considering the size of the organization.

키워드