Labor Mobility: Implications for Asset Pricing

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Human capital relatedness and mergers and acquisitions (2018, unknown): “2 Eisfeldt and Papanikolaou (2013) and Donangelo (2014) find that organizational capital (i.e., the production factor embodied in key personnel) and labor mobility, respectively, are priced risks and significantly increase equity returns.”
Cash holdings and labor heterogeneity:the role of skilled labor (2017, unknown): “We classify industries using three-digit Standard Industrial Classification (SIC) codes for pre-2002 data and four-digit North American Industry Classification System (NAICS) codes for 2002 data and beyond (Donangelo 2014; Belo et al., forthcoming).”
The cross-section of labor leverage and equity returns (2016, unknown): “Donangelo (2014) proposes a model that establishes a positive connection between labor mobility and labor leverage.”
Cash holdings and employee welfare (2013, unknown): “To measure labor mobility, we use the construct introduced by Donangelo (2014), 16 which captures the ex-ante flexibility that workers in a given industry have to move across industries (i.e., whether an industry is characterized by portable labor skills).”
Are employee-friendly workplaces conducive to innovation? (2016, methodology): “Following Donangelo (2014), we measure industry-specific labor mobility (LM) as the average occupation dispersion of employed workers in an industry.25 The rationale is that labor mobility is driven by the level of occupation-specific human capital.”