Seminar  |  07/05/2023 | 03:00 PM  –  04:15 PM

Innovation & Entrepreneurhip Seminar: The Effect of Mentor Gender on the Evaluation of Protégés’ Work

Marc J. Lerchenmüller (University of Mannheim)


Room 313

Despite documented benefits of women mentoring newcomers, we argue that stable social hierarchies carry an evaluation disadvantage for senior women that transcends to impair their protégés’ trajectories. Identifying 4,556 formally mentored scientists with competitive early career funding from the U.S. National Institutes of Health (NIH), we document a citation discount of 10% on the average paper published by women- relative to men-mentored protégés. Accounting for the underlying quality and content of the work, we show that this evaluation discount carries over from papers co-authored with the mentor to protégé’s independent work. Consistent with theory of cumulative disadvantage in stable social systems, we find a widening citation differential for protégés of women versus men as careers progress. We show that the citation discount for women-mentored protégés stems primarily from their mentors’ network of citers. The mentors’ network of citers continues to contribute over 60% of citations to protégés’ work, even if the work is no longer co-authored with the mentor and published several years after formal mentorship. The stability of the gendered citation networks thus provides the ground for citation differentials afflicting protégés mentored by women relative to men. These findings raise concerns about an unbiased discourse on the best scientific contributions and about systemic limitations to women serving as mentors. More generally, the findings also hold implications for status-driven markets and the evolution of social networks.


Co-authored with Leo Schmallenbach and Karin Hoisl (both University of Mannheim)


Contact person: Elisabeth Hofmeister


Subscription to the invitation mailing list and more information on the seminar page.

Seminar  |  06/28/2023 | 03:00 PM  –  04:15 PM

Innovation & Entrepreneurship Seminar: Trust and Innovation within the Firm – Evidence from Matched CEO-Firm Data

Kieu-Trang Nguyen (Northwestern University)


Room 313

This paper shows that CEO’s trust enhances innovation within firms, a novel micro-foundation for the well-known trust-growth relationship. I build a new matched CEO-firm-patent dataset covering 5,753 CEOs in 3,598 US public firms and 700,000 patents during 2000-2011. To identify CEO’s trust’s effect, I exploit variations in (i) generalized trust across CEOs’ ethnic origins, inferred from their last names using de-anonymized historical censuses, and (ii) CEOs’ bilateral trust towards inventors. Following CEO turnovers, a one standard deviation increase in CEO’s generalized trust is associated with 6% more future patents and 4-6% higher average patent quality. Changes in CEO’s bilateral trust towards inventors in different countries or from different ethnic origins have comparable effects on inventors’ patenting, controlling for CEO and other fixed effects. The effect is driven entirely by higher-quality patents, consistent with a model in which CEO’s trust incentivizes researchers to undertake high-risk explorative R&D. Furthermore, across and within firms, CEO’s generalized trust is associated with a text-analysis-based measure of firm’s trust culture computed from one million online employee reviews. 


Contact person: Marina Chugunova


Subscription to the invitation mailing list and more information on the seminar page.

Seminar  |  06/27/2023 | 10:30 AM  –  11:45 AM

Innovation & Entrepreneurship Seminar: Technology Transfer in China and New Technologies

Xia Yu (Huazhong University of Science & Technology, Wuhan)


Room 313

Seminar  |  06/14/2023 | 03:00 PM  –  04:15 PM

Innovation & Entrepreneurship Seminar: Please Take Over – Xai, Delegation of Authority, and Domain Knowledge

Kevin Bauer (University of Mannheim)


Room 313

Abstract follows soon.


Contact person: David Heller


Subscription to the invitation mailing list and more information on the seminar page.

Seminar  |  06/07/2023 | 03:00 PM  –  04:15 PM

Innovation & Entrepreneurship Seminar: Gender and the Time Cost of Peer Review

Erin Hengel (London School of Economics)


Virtual talk, on invitation, see seminar page

In this paper, we investigate one factor that can directly contribute to—as well as indirectly shed light on the other causes of—the gender gap in academic publishing: time and length of peer review. Using detailed administrative data from an economics field journal, we find that referees spend longer reviewing female-authored papers, are slower to recommend accepting them, manuscripts by women go through more rounds of review and their authors spend longer revising them. Less disaggregated data from 32 economics and finance journals corroborate these results. We conclude by showing that all gender gaps decline—and eventually disappear—as the same referee reviews more papers. This pattern suggests novice referees initially statistically discriminate against female authors, but are less likely to do so as their information about and confidence in the peer review process improves. More generally, they also suggest that women may be particularly disadvantaged when evaluators are less familiar with the objectives and parameters of an assessment framework.

Link to paper
 


Contact person: Svenja Friess

Conference  |  06/02/2023 | 09:00 AM  –  04:15 PM

EIPIN Conference 2023 – Coordination of Intellectual Property Law with the New European Data Law

Room E10 (on invitation)

Seminar  |  06/01/2023 | 03:00 PM  –  05:00 PM

TIME Colloquium

Albert Roger (Max Planck Institute for Innovation and Competition), Adrian Goettfried (TUM) (on invitation)


Schackstraße 4, room 314, ISTO (LMU)

Estimating Technological Gains and Losses from Environmental Regulation
Presenter: Albert Roger (Max Planck Institute for Innovation and Competition)
Discussant: Kyung Yul Lee (TUM)


The Locus of Value Capture
Presenter: Adrian Goettfried (TUM)
Discussant: Katerina Dubovska (ISTO)

Seminar  |  05/31/2023 | 03:00 PM  –  04:15 PM

Innovation & Entrepreneurship Seminar: Carbon Liquidity

Ryan Riordan (Ludwig-Maximilians-Universität Munich, LMU)


Room 313

We study the impact of disclosing greenhouse gas emissions (CO2) on the liquidity of firms’ equity. For the subset of firms that report emissions, we find that higher emissions lead to lower liquidity. However, firms that do disclose emissions have lower bid-ask spreads than firms that do not. This is because these firms are more liquid before disclosing emissions but also because when firms first disclose emissions, bid-ask spreads decrease by roughly 13%. These results hold for high information asymmetry firms, for high and low carbon intensity firms, and for early and late disclosing firms. Our results are consistent with theory that shows that more information asymmetry leads to lower liquidity and that ESG-motivated investors may also be noise traders.


Contact person: David Heller


Subscription to the invitation mailing list and more information on the seminar page.

Munich Summer Institute (MSI)
Conference  |  05/24/2023, 09:00 AM  –  05/26/2023, 04:15 PM

Munich Summer Institute 2023

Bavarian Academy of Sciences

Munich Summer Institute (MSI)

The Munich Summer Institute (MSI) is hosted by the Center for Law & Economics at ETH Zurich, HEC Lausanne, Northeastern University, the Chair for Technology and Innovation Management at TUM, the Chair for Economics of Innovation at TUM, the Institute for Strategy, Technology and Organization (ISTO) at the LMU Munich and the Max Planck Institute for Innovation and Competition.


To the Program


Further information on the website of the MSI

Patent Law Series  |  05/23/2023 | 06:00 PM  –  07:30 PM

Verfassungsrechtliche Anforderungen an die Ausgestaltung supranationalen Rechtsschutzes

Peter M. Huber (former Federal Constitutional Court Judge and former Thuringian Minister of the Interior)

Max Planck Institute for Innovation and Competition, Marstallplatz 1, Munich, room E10