{"title":"商业秘密保护与上市公司的雇佣:来自《统一商业秘密法》的证据","authors":"Andrew Yizhou Liu","doi":"10.1016/j.respol.2025.105243","DOIUrl":null,"url":null,"abstract":"<div><div>I demonstrate that the adoption of the Uniform Trade Secrets Act (UTSA) results in a 5.1% increase in employment among public firms in Compustat. The effects are concentrated in firms with below-median initial employment, higher debt costs, and greater potential for knowledge spillovers. R&D expenditures and the accumulation of intangible assets emerge as key drivers of these employment effects. An analysis of labor demand reveals a 9.4% rise in vacancy postings, particularly for skilled workers, following UTSA adoption. Counties with higher initial exposure to public firms’ labor demand experience declines in unemployment rates, underscoring the UTSA’s non-uniform impact on local labor markets and employment growth.</div></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 6","pages":"Article 105243"},"PeriodicalIF":7.5000,"publicationDate":"2025-04-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Trade secrets protection and employment of public firms: Evidence from the Uniform Trade Secrets Act\",\"authors\":\"Andrew Yizhou Liu\",\"doi\":\"10.1016/j.respol.2025.105243\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><div>I demonstrate that the adoption of the Uniform Trade Secrets Act (UTSA) results in a 5.1% increase in employment among public firms in Compustat. The effects are concentrated in firms with below-median initial employment, higher debt costs, and greater potential for knowledge spillovers. R&D expenditures and the accumulation of intangible assets emerge as key drivers of these employment effects. An analysis of labor demand reveals a 9.4% rise in vacancy postings, particularly for skilled workers, following UTSA adoption. Counties with higher initial exposure to public firms’ labor demand experience declines in unemployment rates, underscoring the UTSA’s non-uniform impact on local labor markets and employment growth.</div></div>\",\"PeriodicalId\":48466,\"journal\":{\"name\":\"Research Policy\",\"volume\":\"54 6\",\"pages\":\"Article 105243\"},\"PeriodicalIF\":7.5000,\"publicationDate\":\"2025-04-22\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Research Policy\",\"FirstCategoryId\":\"91\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S0048733325000721\",\"RegionNum\":1,\"RegionCategory\":\"管理学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"MANAGEMENT\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Research Policy","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0048733325000721","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"MANAGEMENT","Score":null,"Total":0}
Trade secrets protection and employment of public firms: Evidence from the Uniform Trade Secrets Act
I demonstrate that the adoption of the Uniform Trade Secrets Act (UTSA) results in a 5.1% increase in employment among public firms in Compustat. The effects are concentrated in firms with below-median initial employment, higher debt costs, and greater potential for knowledge spillovers. R&D expenditures and the accumulation of intangible assets emerge as key drivers of these employment effects. An analysis of labor demand reveals a 9.4% rise in vacancy postings, particularly for skilled workers, following UTSA adoption. Counties with higher initial exposure to public firms’ labor demand experience declines in unemployment rates, underscoring the UTSA’s non-uniform impact on local labor markets and employment growth.
期刊介绍:
Research Policy (RP) articles explore the interaction between innovation, technology, or research, and economic, social, political, and organizational processes, both empirically and theoretically. All RP papers are expected to provide insights with implications for policy or management.
Research Policy (RP) is a multidisciplinary journal focused on analyzing, understanding, and effectively addressing the challenges posed by innovation, technology, R&D, and science. This includes activities related to knowledge creation, diffusion, acquisition, and exploitation in the form of new or improved products, processes, or services, across economic, policy, management, organizational, and environmental dimensions.