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首页> 外文期刊>Journal of economics and business >Are ivory towers truly ivory? Knowledge spillovers and firm innovation
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Are ivory towers truly ivory? Knowledge spillovers and firm innovation

机译:象牙塔真的是象牙吗?知识溢出与企业创新

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摘要

Using a sample from 1980 to 2009, we find that firms headquartered near a knowledge center, as defined by 196 leading American research universities experience higher market-to-book ratios and higher stock volatility. The overall evidence is consistent with knowledge spillovers fostering firm innovation and growth in an increasingly knowledge-based economy and bringing good volatility and higher market valuation to the firm. Surprisingly, this effect comes only marginally through firm R&D and further investigation into other possible channels for the documented links is required. Robustness checks include controls for metropolis effects and utility patents filed.
机译:使用1980年至2009年的样本,我们发现,总部位于知识中心附近的公司(由196所美国一流研究型大学所定义)的市账率和股票波动性更高。总体证据与知识溢出相吻合,知识溢出在日益以知识为基础的经济中促进了公司的创新和增长,并为公司带来了良好的波动性和更高的市场价值。出乎意料的是,这种影响只是通过坚定的研发而产生的,因此需要进一步调查文件链接的其他可能渠道。健壮性检查包括对都市影响的控制和已申请的实用新型专利。

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