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Knowledge Spillovers From Superstar Tech-Firms: The Case of Nokia

Author

Listed:
  • Jyrki Ali-Yrkkö
  • Reda Cherif
  • Fuad Hasanov
  • Natalia Kuosmanen
  • Mika Pajarinen

Abstract

Do workers hired from superstar tech-firms contribute to better firm performance? To address this question, we analyze the effects of tacit knowledge spillovers from Nokia in the context of a quasi-natural experiment in Finland, the closure of Nokia’s mobile device division in 2014 and the massive labor movement it implied. We apply a two-stage difference-in-differences approach with heterogeneous treatment to estimate the causal effects of hiring former Nokia employees. Our results provide new evidence supporting the positive causal role of former Nokia workers on firm performance. The evidence of the positive spillovers on firms is particularly strong in terms of employment and value added.

Suggested Citation

  • Jyrki Ali-Yrkkö & Reda Cherif & Fuad Hasanov & Natalia Kuosmanen & Mika Pajarinen, 2021. "Knowledge Spillovers From Superstar Tech-Firms: The Case of Nokia," IMF Working Papers 2021/258, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2021/258
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    Keywords

    human capital; employment; value added; Nokia; difference-in-differences; heterogeneous treatment; knowledge spillovers; superstar firms.; superstar tech-firm; spillover effect; Nokia employee; superstar firm; effects from Nokia; Spillovers; Employment; Labor productivity; Positive spillovers; Human capital; Global; appendix B.; Specialist hire; knowledge spillovers from Nokia; Total expenditures;
    All these keywords.

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