【Theme】 The Supply Side of Innovation: China’s Higher Education Expansion and Corporate Innovation
【Lecturer】 Zhang, Jian, Associate Professor, School of finance, Southwestern University of Finance and Economics
【Time】 1/11/2017 p.m.13:30-15:00 (Wednesday)
【Place】 Room 303, Phoenix Building, SHUFE
【Sponsor】 SHUFE SPEA investment department
【Host】 Chen, Jie, Professor, Director of investment department at SHUFE
【Introduction of the Lecturer】Associate Professor, School of finance, Southwestern University of Finance and Economics, Doctoral supervisor, received his PhD in Finance at Temple University of United States in2013. Her areas of research include corporate governance, corporate innovation, and corporate investment. His articles have been published in Journal of Business Ethics as first author or independent author, and many other articles are under review by International Journals.
【Abstract】This paper investigates the impact of human capital on corporate innovation. To establish causality, we exploit a policy-induced exogenous shock in the supply of China’s college-educated workforce that started in 2003 to identify the impact of human capital on innovation. Using a difference-in-difference approach, we find that firms in high-skilled industries generate better innovation outcomes measured by patents and citations. Our finding is more significant when there are more science and engineering college graduates in the labor market, when the quality of college education is better, and when the firm is a SOE.