Declining Business Dynamism among Our Best Opportunities: The Role of the Burden of Knowledge
説明
We document that since 1997, the rate of startup formation has precipitously declined for firms operated by U.S. PhD recipients in science and engineering. These are supposedly the source of some of our best new technological and business opportunities. We link this to an increasing burden of knowledge by documenting a long-term earnings decline by founders, especially less experienced founders, greater work complexity in R&D, and more administrative work. The results suggest that established firms are better positioned to cope with the increasing burden of knowledge, in particular through the design of knowledge hierarchies, explaining why new firm entry has declined for high-tech, high-opportunity startups.
収録刊行物
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- SSRN Electronic Journal
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SSRN Electronic Journal 2020-01-01
National Bureau of Economic Research
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キーワード
- Burden of Knowledge
- Startup Rates
- ddc:330
- Ingenieure
- Unternehmensgründung
- JEL: O - Economic Development, Innovation, Technological Change, and Growth/O.O3 - Innovation • Research and Development • Technological Change • Intellectual Property Rights
- Akademiker
- Business Dynamism
- Wissen
- JEL: J - Labor and Demographic Economics/J.J2 - Demand and Supply of Labor/J.J2.J24 - Human Capital • Skills • Occupational Choice • Labor Productivity
- High-Tech Entrepreneurship
- [SHS.GESTION]Humanities and Social Sciences/Business administration
- Naturwissenschaftler
- Einkommen
- USA
- Doctorate Degree Recipients
詳細情報 詳細情報について
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- CRID
- 1874242817516452608
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- ISSN
- 15565068
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- HANDLE
- 10419/234911
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- データソース種別
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- OpenAIRE
