We present a general methodology that uses publicly available data to estimate the magnitude of economic value creation and its distribution among a firm’s stakeholders. Based on productivity literature in economics, the methodology goes beyond the conventional focus on shareholders and allows...

We build a new concordance between the NBER Patent Data and US Census micro-data, and use it to examine what happens when firms patent. We find strong evidence that increases in patent stock are associated with increases in firm size and scope as well as with changes in factor intensity. We find...

This note provides details about the construction of the NBER Patent Data-BR concordance, and is intended for researchers planning to use this concordance. In addition to describing the matching process used to construct the concordance, this note provides a discussion of the benefits and...

We propose an industry-level index of capital resalability-the share of used capital in aggregate industry capital expenditure-that relates (inversely) to sunkenness of investments. Using data from U.S. manufacturing, we then test the effect of capital resalability on industry productivity...

We build a new concordance between the NBER Patent Data and U.S. Census microdata and use it to examine what happens when firms patent. We find strong evidence that increases in patent stock are associated with increases in firm size, scope, and skill and capital intensity. We find somewhat...

Prior firm experience, firm capabilities, and the industry environment are known to be important determinants of new-venture performance. We hypothesize that firm experience prior to setting up a new venture influences the ability to learn from experience after start-up (which is a key...

We examine how firm age relates to innovtion quality, and how this relationship varies depending on the nature of technology. Using data on patents of COMPUSTAT firms, we find that firm age is negatively related to technical quality, and that this effect is greater in technologically active...