Unpacking the Star Life Cycle: Value Creation Across Stars’ Careers

Abstract

Extant research on stars has demonstrated stars’ immense direct and indirect contributions to value creation, yet it lags behind strategy scholarship, which has emphasized the dynamic nature of value creation associated with firms’ core resources. In particular, we lack knowledge regarding how stars’ knowledge creation varies across a star’s career. Drawing on insights from the stars and careers literatures, we develop theoretical arguments that suggest that over their careers, stars shift focus from emphasizing personal attainment and status to prioritizing legacy building—shifts that we predict will correspond to decreases in stars’ relative individual productivity and conveyance of explicit knowledge spillovers to collaborators (which reinforce stars’ status) and increases in stars’ relative conveyance of tacit knowledge spillovers (that aid in colleagues’ development) as stars advance in career tenure. We test our hypotheses through the analysis of patenting activities spanning the years 2000-2022, 291 firms, and 214,398 inventors, cumulating to more than 1,210,989 inventor-year observations. Through the integration of temporal and psychological perspectives in our consideration of stars’ multiple contributions to knowledge creation over their careers, we bring our understanding of stars into alignment with insights related to the dynamic value creation associated with firms’ resources and advance knowledge on stars’ roles in the micro-foundations of human capital-based competitive advantage.