The role of human capital: Evidence from corporate innovation

Tong Liu, Yifei Mao and Xuan Tian

Journal of Empirical Finance, 2023, vol. 74, issue C

Abstract: This paper examines the distinct roles played by inventors and firms in contributing to corporate innovation. Inventors are six to eight times as important as firms in contributing to innovation performance as measured by patent and citation counts, but their importance is about the same in innovation strategies as captured by patent exploratory and exploitative scores. Furthermore, when labor mobility is reduced, the relative importance of firms to inventors in contributing to innovation strategy increases. Additional tests suggest that our main findings are unlikely driven by endogenous matching between firms and inventors.

Keywords: Human capital; Inventors; Innovation strategy; Innovation performance (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0927539823001020
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:empfin:v:74:y:2023:i:c:s0927539823001020

DOI: 10.1016/j.jempfin.2023.101435

Access Statistics for this article

Journal of Empirical Finance is currently edited by R. T. Baillie, F. C. Palm, Th. J. Vermaelen and C. C. P. Wolff

More articles in Journal of Empirical Finance from Elsevier
Bibliographic data for series maintained by Catherine Liu ().