The firm's stock of human capital is an important determinant of its ability to innovate. As such, any increase in this stock through firm-sponsored training might lead to more innovation. We test this hypothesis using detailed data on firms' human capital investments and innovation performance,...

We study how the human capital embedded in teams is reallocated in corporate bankruptcies using data on US inventors. We find that bankruptcies reduce team stability. After a bankruptcy, team-dependent inventors produce fewer and less impactful patents. This points to the loss of team-specific...

Understanding the factors that may produce a sustained rate of innovation is important for promoting economic development and growth. In this paper, we examine the role of human capital in firms' innovation by using a large sample of manufacturing firms from China. We use two firm-level datasets...

Do academic scientists bring valuable human capital to the companies they found or join? If so, what are the particular skills that compose their human capital and how are these skills related to firm performance? This paper examines these questions using a particular group of academic...

The paper aims at extending the analysis of the firm's absorptive capacity (AC) by taking stock of its manifold nature. Innovation cooperation is recognised as one of its antecedents, along with R&D, but with different possible outcomes, depending on the kind of partner. Human capital is claimed...

We design a performance-on-structure experiment, where performance is measured by innovation outcomes and structure is defined as corporate investment policy, specifically, how firms acquire, assess, and retain human capital. We use patents, patents normalized by R&D intensity, patent citations,...

Before 2004, by sourcing skilled labor in the international labor market, large, innovative U.S. firms effectively utilized an alternative to investing in the existing human capital stock of these firms. After the immigration policy shock of 2004, when new skilled immigrant hiring became...

Understanding the factors that may produce a sustained rate of innovation is important for promoting economic development and growth. In this paper, we examine the role of human capital in firms' innovation by using a large sample of manufacturing firms from China. We use two firm-level datasets...

Firms whose human capital is concentrated in a few irreplaceable employees lack diversification in their human capital stock, exposing them to key human capital risk. Using "key man life insurance" disclosures to measure this risk, we show that exposed firms are riskier. These younger, smaller,...

Adopting a Bourdieusian perspective, human capital of research team in the paper is understood as the configuration of the active properties of individual team's members and the distribution of differences of their active properties. The paper describes a research team as an ensemble of social...