Workforce education and corporate innovation

Lingwei Li, Linlu Liu and Hai Wu

Australian Journal of Management, 2022, vol. 47, issue 4, 599-629

Abstract: The average workforce education near firms’ research centers facilitates firms’ matching with innovation talents and acquisition of knowledge. This study documents a positive association between the average education level in the metropolitan statistical areas (MSAs) where firms’ research centers are located and the quantity and quality of innovation outputs. The results are confirmed by controlling for various measures of MSA-level economic, population, and employment conditions, as well as research-center level analyses which control for firm-year fixed effects. We further find that local workforce education is more important for firms that are large, less labor-intensive, in non-high-tech industries and located in low education regions. The evidence highlights the importance of having access to well-educated local workforce for corporate innovation. JEL Classification: G30, J24, O31

Keywords: Corporate innovation; human capital; patents and citations; rank-and-file employees; workforce education (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:47:y:2022:i:4:p:599-629

DOI: 10.1177/03128962221077453

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