Team-specific capital and innovation
Neviana Petkova and
LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library
We establish the importance of team-specific capital in the typical inventor's career. Using administrative tax and patent data for the population of US patent inventors from 1996 to 2012, we find that an inventor's premature death causes a large and long-lasting decline in their co-inventor's earnings and citation-weighted patents (–4 percent and –15 percent after 8 years, respectively). After ruling out firm disruption, network effects, and top-down spillovers as main channels, we show that the effect is driven by close-knit teams and that team-specific capital largely results from an "experience" component increasing collaboration value over time.
JEL-codes: J24 J31 M54 O31 O34 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-hrm, nep-ino and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed
Published in American Economic Review, 1, April, 2018, 108(4-5), pp. 1034-73. ISSN: 0002-8282
Downloads: (external link)
http://eprints.lse.ac.uk/87653/ Open access version. (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:87653
Access Statistics for this paper
More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().