Boarding a Sinking Ship? An Investigation of Job Applications to Distressed Firms

We are grateful to the research and data management teams at the company that provided the data for this research. For helpful comments, we also thank Emek Basker, Bo Becker, Effi Benmelech, Meghan Busse, Jason Faberman, Craig Furfine, Craig Garthwaite, Todd Gormley, Edith Hotchkiss, Hyunseob Kim, Danielle Li, Brian Melzer, Dylan Minor, Hernan Ortiz-Molina, Josh Rauh, Antoinette Schoar, Aaron Sojourner, Chris Stanton and Amir Sufi, as well as seminar participants at the Bank of Portugal, HEC Montreal, MIT, Michigan State University, National University of Singapore, Shanghai University of Finance and Economics, Tsinghua University, University of Alberta, University of British Columbia, University of Georgia, University of Maryland, University of North Carolina, University of Notre Dame, University of Southern California, University of Toronto, University of Utah, Federal Reserve Bank of Chicago, American Finance Association Meeting, Bank of Portugal Conference on the Labor Market, CSEF Conference on Finance and Labor, European Winter Finance Conference, LMU Munich Workshop on Natural Experiments and Controlled Field Studies, NBER Corporate Finance Program, University of Michigan Mitsui Finance Symposium, University of Tokyo and RIETI International Workshop on Personnel Economics, Western Finance Association Meeting, and Utah Winter Business Economics Conference. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

• July 6, 2012
• October 18, 2012
• January 25, 2013
• August 2, 2013