Indeed, and in this recent paper, it is argued that quite literally the opposite is causally true: https://www.nber.org/system/files/working_papers/w29874/w2987

Indeed, and in this recent paper, it is argued that quite literally the opposite is causally true: https://www.nber.org/system/files/working_papers/w29874/w29874.pdf https://www.nber.org/system/files/working_papers/w29874/w298... "Within five years of the appointment of a business manager, wages decline by 6% and the labor share by 5 percentage points in the US, and by 3% and 3 percentage points in Denmark. Firms appointing business managers are not on differential trends and do not enjoy higher output, investment, or employment growth thereafter."