최준규 교수

Despite the importance of high-growth young firms for economic growth, determinants of their growth and survival dynamics are not well understood. In this study, I develop a dynamic occupational choice model that identifies a key predictor of the early growth trajectory of young firms: the outside options of the business founders. I show that entrepreneurs with higher outside options as paid workers tend to take larger business risks, and thus exhibit a more up-or-out type of firm dynamics. I fi

Abstract We show that early joiners—nonfounder employees in the first year of a startup—play a critical role in shaping firm performance. We use administrative employer-employee matched data on U.S. startups and utilize premature death as a natural experiment that exogenously separates talent from startups. We find that losing an early joiner has large negative effects on employment and revenues that persist for at least ten years. In contrast, losing a later joiner yields only a small and tempo

Using American Recovery and Reinvestment Act (ARRA) data, we show that firms lever their political connections to win stimulus grants and public expenditure channeled through politically connected firms hinders job creation. We build a unique database that links campaign contributions and state legislative election outcomes to ARRA grant allocation. Using exogenous variation in political connections based on ex-post close elections held before ARRA, we causally show that politically connected fi

We show that early joiners-non-founder employees in the first year-of a startup play a critical role in explaining firm performance. We use administrative employer-employee matched data on all US startups and utilize the premature death of workers as a natural experiment exogenously separating talent from young firms. We find that losing an early joiner has a large negative effect on firm size that persists for at least ten years. When compared to that of a founder, losing an early joiner has a

We show that early joiners---non-founder employees in the first year of a startup---play a critical role in explaining firm performance. We use administrative employee-employer matched data on all US startups and utilize the premature death of workers as a natural experiment exogenously separating talent from young firms. We find that losing an early joiner has a large negative effect on firm size that persists for at least ten years. When compared to that of a founder, losing an early joiner ha

Using American Recovery and Reinvestment Act (ARRA) data, we show that firms lever their political connections to win stimulus grants and that public expenditure channeled through politically connected firms hinders job creation. We build a unique database that links information on campaign contributions, state legislative elections, firm characteristics, and ARRA grant allocation. Using exogenous variation in political connections based on ex-post close elections held before ARRA, we causally s

We study the role of firms' political influence on the effectiveness of government spending using ARRA as a laboratory.Through an IV approach, we show that a 10 percentage points increase in the share of politically connected spending lowers the job creation effect of stimulus by 33 percent at the state level.We exploit ex-post close state-level elections to establish that firms that contributed to winning candidates create fewer jobs after winning grants.Using a quantitative general equilibrium

We use the U.S. patent data merged with firm-level datasets to establish new facts about the role of mega firms in generating "novel patents"-innovations that introduce new combinations of technology components for the first time.While the importance of mega firms in novel patents had been declining until about 2000, it has strongly rebounded since then.The timing of this turnaround coincided with the ascendance of firms that newly became mega firms in the 2000s, and a shift in the technological

Genetic linkage maps for Asian pear (Pyrus spp.) were constructed based on RAPD, AFLP, and SSR markers using 94 seedlings of F1 progenies from the cross between P. pyrifolia cv. Niitaka and P. ussuriensis cv. Suhyangri according to double pseudo-testcross mapping strategy. The map for ‘Niitaka’ consisted of 106 loci including 18 RAPDs, 85 AFLPs, and 3 SSRs on 19 linkage groups over a total length of 1,006 cM, while that for ‘Suhyangri’ contained 122 loci including 29 RAPDs, 88 AFLPs, and 3 SSRs

In this article, the author proposes legislation that would recognize the biological father’s right to deny paternity for a child born within wedlock, and allow the biological father to seek a provisional birth registration for such a child. The main points of the proposed legislation can be summarized as follows: On the biological father’s rights to deny paternity: 1. Ⓐ Within 2 years from the date of the child’s birth, or Ⓑ within 1 year from the date the plaintiff discovers that he is the b

법무부는 2021. 7. 19. “동물은 물건이 아니다. 동물에 대해서는 법률에 특별한 규정이 있는 경우를 제외하고는 물건에 관한 규정을 준용한다.”는 내용의 민법개정안을 입법예고하였다. 위 개정안은 선언적·상징적 의미를 가질 뿐만 아니라, 실천적 의미도 갖는다. 동물관련 법 해석을 하는 법관입장에서 위 개정안은, 경제성과 동물보호라는 두 가치가 대립할 때 후자에 무게를 두는 것을 정당화하는 법적 근거가 될 수 있기 때문이다(의심스러울 때는 동물의 이익으로!). 이제 동물은 단순한 물건이 아니고 ‘살아있는’ 물건이다.<BR> 이러한 일반규정 이외에 민사법은 구체적 상황에서 동물을 보호하기 위해 여러 역할을 할 수 있다. 이 글에서는 동물보호를 위한 민사법의 향후과제를 입법론(동물에 대한 강제집행 금지, 이혼 시 반려동물의 취급 등)과 해석론(반려동물을 위한 긴급피난, 생태적 공서양속 등)으로 나누어 살펴보았다.<BR> 그런데 민사법을 통한 동물보호는 사인(私人)과 밀접한 관련을 맺고

This article is commentary on Korean Supreme Court Decision on Feb. 18. 2016, Case no. 2015Meu654, 651. The main issue of this case is whether it constitutes a ground for marriage cancellation based on fraud (Korean Civil Act Article 816 subpara. 3), to conceal from the other party one’s past child birth, in cases where Vietnamese female got pregnant as a child victim to sexual assault and gave birth, but the relationship with the child was cut off for a considerable time. My conclusions on this

When a debtor’s insolvency proceedings open, the bankrupt debtor’s non-performance of their contractual obligation either continues or occurs anew under the insolvency procedures due to the mandatory standstill imposed by the procedures. The author’s main argument in this paper is that, regardless of whether the contract in question is executory, (1) a creditor can claim damages caused by such non-performance as an insolvency claim or a subordinate insolvency claim, but (2) the creditor should n