The Effects of Terrorist Attacks on Inventor Productivity and Mobility

45 Pages Posted: 8 Feb 2021 Last revised: 6 Oct 2022

See all articles by Eliezer M. Fich

Eliezer M. Fich

Drexel University - Department of Finance

Tung Nguyen

Alliance Manchester Business School

Dimitris Petmezas

Durham University Business School

Date Written: October 6, 2022

Abstract

We investigate the impact of deadly terrorist attacks on inventor productivity and mobility in the U.S. During the five-year window after such events, nearby firms generate fewer and less impactful inventions. Moreover, their inventors typically exhibit a post-attack decline in their patent production, unless they move to a distant company (which some tend to do after an attack). Firms’ financial constraints and inventor talent appear to provide channels underlying our productivity and mobility findings, respectively. These results provide novel insights about the impact of shocks that distort the invention process and promote the mobility and reallocation of inventors among firms.

Keywords: Terrorism, Inventions, Patents, Citations, Inventor Productivity, Inventor Mobility

JEL Classification: G41, J24, J28, J61, O30

Suggested Citation

Fich, Eliezer M. and Nguyen, Tung and Petmezas, Dimitris, The Effects of Terrorist Attacks on Inventor Productivity and Mobility (October 6, 2022). Research Policy, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3747554 or http://dx.doi.org/10.2139/ssrn.3747554

Eliezer M. Fich

Drexel University - Department of Finance ( email )

LeBow College of Business
3220 Market Street – 11th Floor
Philadelphia, PA 19104
(215) 895-2304 (Phone)

HOME PAGE: http://https://sites.google.com/view/eliezerfich

Tung Nguyen

Alliance Manchester Business School ( email )

AMBS Crawford House
Booth Street West
Manchester, Greater Manchester, M15 6PB
United Kingdom

HOME PAGE: http://tung-dn.github.io/index.html

Dimitris Petmezas (Contact Author)

Durham University Business School ( email )

Mill Hill Lane
Durham, DH1 3LB
United Kingdom

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