|Skilled Human Capital and High-Growth Entrepreneurship: Evidence from Inventor Inflows|
with , , : w27605
To what extent does high-growth entrepreneurship depend on skilled human capital? We estimate the impact of the inflow of inventors into a region on the founding of high-growth firms, instrumenting mobility with the county-level share of millions of inventor surnames in the 1940 U.S. Census. Inventor immigration increases county-level high-growth entrepreneurship; estimates range from 29-55 immigrating inventors for each new high-growth firm, depending on the region and model. We also find a smaller but significant negative effect of inventor arrival on entrepreneurship in nearby counties.
|From Theory to Practice: Field Experimental Evidence on Early Exposure of Engineering Majors to Professional Work|
with : w26013
Young workers typically enter the professional labor market only after completing higher education. We investigate how earlier professional work experience affects skilled worker development. In a field experiment, 1,787 Engineering majors were randomly assigned to 6-month work terms to begin either in the second or third year of studies. Early exposure caused systematic differences in inclination to take Engineering elective courses, choice of major, and the probability of persisting in Engineering years later—consistent with engagement, retention, and sorting effects. Early exposure notably increased academic and professional outcomes of lower-income students.
|Dynamic Commercialization Strategies for Disruptive Technologies: Evidence from the Speech Recognition Industry|
with , : w19764
When startup innovation involves a potentially disruptive technology - initially lagging in the predominant performance metric, but with a potentially favorable trajectory of improvement - incumbents may be wary of engaging in cooperative commercialization with the startup. While the prevailing theory of disruptive innovation suggests that this will lead to (exclusively) competitive commercialization and the eventual replacement of incumbents, we consider a dynamic strategy involving product market entry before switching to a cooperative commercialization strategy. Empirical evidence from the automated speech recognition industry from 1952-2010 confirms the main prediction of the model.
Published: “Dynamic Commercialization Strategies for Disruptive Technologies: Evidence from the Speech Recognition Industry,” (with Matt Marx and David Hsu), Management Science, Vol.60, No.12, 2014, pp.3103-3123. citation courtesy of
|Non-compete Agreements: Barriers to Entry…and Exit?|
in Innovation Policy and the Economy, Volume 12, Josh Lerner and Scott Stern, editors