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Human Resource Practices and Value Capture from Investment in Knowledge/Innovation: Evidence from a Quasi-Experiment

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Author Info
Georgiadis, Andreas
Pitelis, Christos
Abstract

We analyse the link between human resource (HR) practices and the ability of firms to capture value from investments in knowledge-innovation and present evidence that supports a positive relationship between the two, employing an empirical design that utilises a unique data set that is based on a quasi-experiment. Our findings suggest that an additional pound invested in R&D, increases the rate of return of businesses that receive support in the form of employees and management/entrepreneur training, as well as improved workforce retention and recruitment, by significantly more than businesses that didn't receive such support. This has important implications for managerial practice and public policy.

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File URL: http://www.esri.ie/research/research_areas/international_economics/dynreg/papers/WP41.pdf
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File Function: 2009
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Paper provided by Economic and Social Research Institute (ESRI) in its series Papers with number DYNREG41.

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Length: 41 pages
Date of creation: 2009
Date of revision:
Handle: RePEc:esr:wpaper:dynreg41

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  1. Claudio Michelacci, 2003. "Low Returns in R&D Due to the Lack of Entrepreneurial Skills," Economic Journal, Royal Economic Society, vol. 113(484), pages 207-225, January. [Downloadable!] (restricted)
  2. Griliches, Zvi, 1990. "Patent Statistics as Economic Indicators: A Survey," Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1661-1707, December. [Downloadable!] (restricted)
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  3. Mark R. Rosenzweig & Kenneth I. Wolpin, 2000. "Natural "Natural Experiments" in Economics," Journal of Economic Literature, American Economic Association, vol. 38(4), pages 827-874, December. [Downloadable!] (restricted)
  4. Grossman, Gene M. & Helpman, Elhanan, 1991. "Trade, knowledge spillovers, and growth," European Economic Review, Elsevier, vol. 35(2-3), pages 517-526, April. [Downloadable!] (restricted)
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  5. Jarle Moen, 2005. "Is Mobility of Technical Personnel a Source of R&D Spillovers?," Journal of Labor Economics, University of Chicago Press, vol. 23(1), pages 81-114, January. [Downloadable!]
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  6. Teece, David J., 2006. "Reflections on "Profiting from Innovation"," Research Policy, Elsevier, vol. 35(8), pages 1131-1146, October. [Downloadable!] (restricted)
  7. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January. [Downloadable!] (restricted)
  8. Horne, Martin & Lloyd, Peter & Pay, John & Roe, Philip, 1992. "Understanding the competitive process A guide to effective intervention in the small firms sector," European Journal of Operational Research, Elsevier, vol. 56(1), pages 54-66, January. [Downloadable!] (restricted)
  9. repec:fth:harver:1473 is not listed on IDEAS
  10. Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc. [Downloadable!]
  11. Eaton, Jonathan & Rosen, Harvey S, 1980. "Taxation, Human Capital, and Uncertainty," American Economic Review, American Economic Association, vol. 70(4), pages 705-15, September. [Downloadable!] (restricted)
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  12. Teece, David J., 1986. "Profiting from technological innovation: Implications for integration, collaboration, licensing and public policy," Research Policy, Elsevier, vol. 15(6), pages 285-305, December. [Downloadable!] (restricted)
  13. Aghion, Philippe & Howitt, Peter, 1992. "A Model of Growth through Creative Destruction," Econometrica, Econometric Society, vol. 60(2), pages 323-51, March. [Downloadable!] (restricted)
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  14. White, Halbert, 1982. "Maximum Likelihood Estimation of Misspecified Models," Econometrica, Econometric Society, vol. 50(1), pages 1-25, January. [Downloadable!] (restricted)
  15. Colin Wren, 2002. "Evaluating the effect of soft business support upon small firm performance," Oxford Economic Papers, Oxford University Press, vol. 54(2), pages 334-365, April.
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