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Which firms want PhDs? The effect of the university-industry relationship on the PhD labour market

Author

Listed:
  • José García-Quevedo

    (Barcelona Institute of Economics (IEB) and Dpt. of Political Economy and Public Finance, University of Barcelona)

  • Francisco Mas-Verdú

    (Dpt. of Economics and Social Sciences, Universidad Politécnica de Valencia and Barcelona Institute of Economics (IEB))

  • José Polo-Otero

    (CYD Foundation and Barcelona Institute of Economics (IEB))

Abstract

PhD graduates hold the highest education degree, are trained to conduct research and can be considered a key element in the creation, commercialization and diffusion of innovations. The impact of PhDs on innovation and economic development takes place through several channels such as the accumulation of scientific capital stock, the enhancement of technology transfers and the promotion of cooperation relationships in innovation processes. Although the placement of PhDs in industry provides a very important mechanism for transmitting knowledge from universities to firms, information about the characteristics of the firms that employ PhDs is very scarce. The goal of this paper is to improve understanding of the determinants of the demand for PhDs in the private sector. Three main potential determinants of the demand for PhDs are considered: cooperation between firms and universities, R&D activities of firms and several characteristics of firms, size, sector, productivity and age. The results from the econometric analysis show that cooperation between firms and universities encourages firms to recruit PhDs and point to the existence of accumulative effects in the hiring of PhD graduates.

Suggested Citation

  • José García-Quevedo & Francisco Mas-Verdú & José Polo-Otero, 2010. "Which firms want PhDs? The effect of the university-industry relationship on the PhD labour market," Working Papers XREAP2010-02, Xarxa de Referència en Economia Aplicada (XREAP), revised Mar 2010.
    • Handle: RePEc:xrp:wpaper:xreap2010-02
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    References listed on IDEAS

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    JEL classification:

    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • I23 - Health, Education, and Welfare - - Education - - - Higher Education; Research Institutions

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