On the Returns to Invention within Firms: Evidence from Finland

Philippe Aghion (), Ufuk Akcigit, Ari Hyytinen and Otto Toivanen
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Philippe Aghion: PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique, LSE - London School of Economics and Political Science, Collège de France - Chaire Economie des institutions, de l'innovation et de la croissance - CdF (institution) - Collège de France
Ari Hyytinen: JYU - University of Jyväskylä

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Abstract: In this paper we merge individual income data, firm-level data, patenting data, and IQ data in Finland over the period 1988–2012 to analyze the returns to invention for inventors and their coworkers or stakeholders within the same firm. We find that: (i) inventors collect only 8 percent of the total private return from invention; (ii) entrepreneurs get over 44 percent of the total gains; (iii) bluecollar workers get about 26 percent of the gains and the rest goes to white-collar workers. Moreover, entrepreneurs start with significant negative returns prior to the patent application, but their returns subsequently become highly positive.

Date: 2018-05
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Citations: View citations in EconPapers (24)

Published in American Economic Review Papers and Proceedings, 2018, 108, pp.208 - 12. ⟨10.1257/pandp.20181108⟩

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Journal Article: On the Returns to Invention within Firms: Evidence from Finland (2018)
Working Paper: On the Returns to Invention within Firms: Evidence from Finland (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:pseptp:halshs-01883564

DOI: 10.1257/pandp.20181108

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