BEGIN:VCALENDAR
VERSION:2.0
PRODID:-//jEvents 2.0 for Joomla//EN
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
UID:32e20ce56086317731f682327659947b
CATEGORIES:Seminars
CREATED:20150211T195618
SUMMARY:Francesco D’Acunto - University of California, Berkeley (Job Market Seminar)
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Innovating to Invest: The Role of Basic Education\nAbstract:\nDespite the f
 ocus of entrepreneurial finance research on high-tech innovation, more than
  75% of innovations are new processes and products in traditional manufactu
 ring. I show that basic education is a key determinant of innovation in tra
 ditional industries. I document that manufacturers in European regions with
  10% more high school graduates file 15% more patents, and invest 4% more i
 n capital expenditures. To absorb spatially correlated unobservables, I con
 struct Virtual Regions that only exploit the variation in basic education a
 cross nearby locations. To address the possibility of reverse causality, I 
 establish that regional basic education persists for decades, and I use the
  quasi-exogenous diffusion of the printing press after 1450 to instrument f
 or historical basic education. The results offer a human capital channel fo
 r innovation that feeds into the innovation-to-investment literature in fin
 ance.\n
DTSTAMP:20260404T092047Z
DTSTART:20150218T173000Z
DTEND:20150218T190000Z
SEQUENCE:0
TRANSP:OPAQUE
END:VEVENT
END:VCALENDAR