What is the role of startups within the innovation ecosystem? Since 2000, startups have grown in their share of commercializing research from top U.S. universities; however, prior work has little to say on the particular advantages of startup ventures in the innovation process relative to more...

A firm's resources are well understood to be a source of competitive advantage. However, how a firm comes to acquire resources with the traits that provide competitive advantage is less clear. To explore this question, this paper studies a setting where heterogenous incumbent firms were affected...

Are differences in inventor productivity due to differences in inventors’ skills or differences in the capabilities of the firms they work for? We analyze a 37-year panel that tracks the patenting of U.S. inventors and find strong evidence for serial correlation in inventors’ productivity....