This study examines the relationship between career concerns of organizational decision-makers and their investments by analyzing data from Major League Baseball's (MLB) annual player draft. Career concerns for MLB general managers (GMs) can create incentives to prioritize near-term success and thus spend fewer draft resources on high school players (who, being younger than college players, are less likely to provide near-term benefit to an MLB team). Findings are consistent with this: underperforming expectations in the prior season leads teams to spend significantly smaller proportions of signing bonus dollars on high school players, an effect driven by GMs with relatively short tenures.

中文翻译：

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美国职业棒球大联盟球员选秀中的职业问题和人员投资

本研究通过分析美国职业棒球大联盟 (MLB) 年度球员选秀的数据，研究了组织决策者的职业关注与其投资之间的关系。美国职业棒球大联盟总经理 (GMs) 的职业问题可以激励他们优先考虑近期的成功，从而减少对高中球员的选秀资源（他们比大学球员年轻，不太可能为 MLB 球队提供近期利益）。调查结果与此一致：上赛季表现不佳导致球队在高中球员身上花费的签约奖金比例显着减少，这是由任期相对较短的总经理推动的。