Replication data for: On the Returns to Invention within Firms: Evidence from Finland
Principal Investigator(s): View help for Principal Investigator(s) Philippe Aghion; Ufuk Akcigit; Ari Hyytinen; Otto Toivanen
Version: View help for Version V1
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Project Citation:
Aghion, Philippe, Akcigit, Ufuk, Hyytinen, Ari, and Toivanen, Otto. Replication data for: On the Returns to Invention within Firms: Evidence from Finland. Nashville, TN: American Economic Association [publisher], 2018. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114491V1
Project Description
Summary:
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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.
Scope of Project
JEL Classification:
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D22 Firm Behavior: Empirical Analysis
G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
L25 Firm Performance: Size, Diversification, and Scope
L26 Entrepreneurship
O31 Innovation and Invention: Processes and Incentives
O34 Intellectual Property and Intellectual Capital
D22 Firm Behavior: Empirical Analysis
G32 Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
L25 Firm Performance: Size, Diversification, and Scope
L26 Entrepreneurship
O31 Innovation and Invention: Processes and Incentives
O34 Intellectual Property and Intellectual Capital
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