Do General Managerial Skills Spur Innovation?
Do General Managerial Skills Spur Innovation?
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DOI：
10.2139/ssrn.2289701
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发表时间：
2017-09
期刊：
影响因子：
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通讯作者：
Cláudia Custódio;Miguel A. Ferreira;Pedro Matos
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文献类型：
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作者：
Cláudia Custódio;Miguel A. Ferreira;Pedro Matos
我们发现，公司的首席执行官（CEO）谁获得一般管理技能，在他们的一生工作经验产生更多的专利。我们解决潜在的内源性CEO公司匹配偏见使用公司CEO固定效应和变化的竞业禁止协议的可执行性，随着时间的推移，在CEO的职业生涯。我们的研究结果表明，多面手型CEO之所以能激励创新，是因为他们拥有的技能，在创新项目失败时可以应用到其他地方。我们的结论是，一个有效的劳动力市场的管理人员可以促进企业创新，提供一个机制，容忍失败。
We show that firms with chief executive officers (CEOs) who gain general managerial skills over their lifetime work experience produce more patents. We address the potential endogenous CEO-firm matching bias using firm-CEO fixed-effects and variation in the enforceability of non-compete agreements across states and over time during the CEO’s career. Our findings suggest that generalist CEOs spur innovation because they have skills that can be applied elsewhere should innovation projects fail. We conclude that an efficient labor market for executives can promote corporate innovation by providing a mechanism of tolerance for failure.