On the Returns to Invention within Firms : Evidence from Finland
Aghion, P., Akcigit, U., Hyytinen, A., & Toivanen, O. (2018). On the Returns to Invention within Firms : Evidence from Finland. In W. R. Johnson, & K. Markel (Eds.), ASSA 2018 : Annual meeting of the Allied Social Science Associations (pp. 208-212). AEA Papers and Proceedings, 108. American Economic Association. doi:10.1257/pandp.20181108
Published inAEA Papers and Proceedings
© 2018 American Economic Association.
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.
PublisherAmerican Economic Association
ConferenceAnnual meeting of the Allied Social Science Associations
Is part of publicationASSA 2018 : Annual meeting of the Allied Social Science Associations
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