Give Me Your Tired, Your Poor, Your High-Skilled Labor: H-1B Lottery Outcomes and Entrepreneurial Success

• 成果类型: Article
• 署名作者: Dimmock, Stephen G.; Huang, Jiekun; Weisbenner, Scott J.
• 署名单位: National University of Singapore; University of Illinois System; University of Illinois Urbana-Champaign; National Bureau of Economic Research
• 刊物名称: MANAGEMENT SCIENCE
• ISSN/ISSBN: 0025-1909
• DOI: 10.1287/mnsc.2021.4152
• 发表日期: 2022
• 页码: 6950-6970
• 关键词: immigration; H-1B visa; IPO; venture capital; patent; INNOVATION; Skilled labor; high-skill immigration; hiring constraints

摘要

We study how access to high-skill labor affects the outcomes of start-up firms. We obtain exogenous variation in firms' ability to access skilled labor by using win rates in H-1B visa lotteries. Relative to other firms that also applied for H-1B visas, firms with higher lottery win rates are more likely to receive additional venture capital funding and to have a successful exit via an IPO or acquisition. H-1B visa lottery winners also subsequently receive more patents and patent citations. Overall, our results suggest that access to high-skill labor is a critical determinant of success for start-up firms.