Purpose: This paper aims to study competencies between two groups of professionals: employees in innovative companies and entrepreneurs. Therefore the following questions arise: Are these two types of competences the same? Do innovative companies demand an entrepreneurial profile? Are...

We investigate the impact of labor-force heterogeneity on asset prices in a neoclassical model with labor and capital adjustment costs, and with aggregate productivity and adjustment cost shocks. We document that the negative firms' hiring rate-future stock return relation identified in previous...