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Entrepreneurial Spillovers from Corporate R&D

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  • Tania Babina
  • Sabrina T. Howell

Abstract

This paper offers the first study of how changes in corporate R&D investment affect labor mobility. We show that increases in R&D spur employee departures to join start-ups’ founding teams. This appears to reflect employees taking the ideas, skills, or technologies created through the R&D process but not especially valuable to the R&D-investing firm to start-ups. The employee-founded start-ups tend to be outside the R&D-investing employer’s industry, suggesting that the underlying ideas would impose diversification costs on the R&D-investing firm. The start-ups are more likely to be VC backed, high tech, and high wage, pointing to substantial spillover benefits.

Suggested Citation

  • Tania Babina & Sabrina T. Howell, 2024. "Entrepreneurial Spillovers from Corporate R&D," Journal of Labor Economics, University of Chicago Press, vol. 42(2), pages 469-509.
    • Handle: RePEc:ucp:jlabec:doi:10.1086/723501
    DOI: 10.1086/723501
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