Radical and Incremental Innovation: The Roles of Firms, Managers, and Innovators
研究了企业选择激进创新还是渐进创新的决定因素，发现更开放的企业更可能进行激进创新，并雇佣年轻管理者和擅长激进创新的发明者，但管理者年龄对激进创新的因果影响很小。
We investigate the determinants of radical (“creative”) innovations that break new ground in knowledge creation. We develop a model focusing on the choice between incremental and radical innovation and on how managers of different ages and human capital are sorted across firms. Firm- and patent-level evidence reveals that firms that are more “open to disruption” are significantly more likely to engage in radical innovation and hire younger managers and inventors with a comparative advantage in radical innovation. However, once the effect of the sorting is factored in, the (causal) impact of manager age on creative innovations, though positive, is small.