This paper examines how the enforceability of noncompete covenants affects the creation, growth, and survival of spinouts and other new entrants. The impact of noncompete enforceability on new firms is ambiguous, since noncompetes reduce knowledge leakage but impose hiring costs. However, we...

Using establishment-level micro data on Compustat firms, we develop a novel decomposition of firm employment growth. Our decomposition reveals that on average, firms in this sample rely more on growth from acquiring and founding new establishments than on growth of existing establishments....

We examine how firm age relates to innovation quality, and how this relationship varies depending on the nature of technology. Using data on patents of COMPUSTAT firms, we find that firm age is negatively related to technical quality, and that this effect is greater in technologically active...

We examine how firm age relates to innovtion quality, and how this relationship varies depending on the nature of technology. Using data on patents of COMPUSTAT firms, we find that firm age is negatively related to technical quality, and that this effect is greater in technologically active...