On the Returns to Invention within Firms: Evidence from Finland
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In this paper we merge individual income data, firm-level data, patenting data, and IQ data in Finland over the period 1988-2012 to analyze the returns to invention for inventors and their coworkers or stakeholders within the same firm. We find that: (i) inventors collect only 8 percent of the total private return from invention; (ii) entrepreneurs get over 44 percent of the total gains; (iii) bluecollar workers get about 26 percent of the gains and the rest goes to white-collar workers. Moreover, entrepreneurs start with significant negative returns prior to the patent application, but their returns subsequently become highly positive.
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2019 ◽
Vol 11
(1)
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pp. 38-63
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2008 ◽
Vol 14
(4)
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pp. 337-358
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