A study by two Stanford University professors determines that companies founded by the university’s alumni generate world revenues of $2.7 trillion annually and have created 5.4 million jobs since the 1930s.

The open-access study, “Stanford University’s Economic Impact via Innovation and Entrepreneurship,” released today, puts into perspective the sheer scale of the university’s economic impact, not just in Silicon Valley and California but across the globe.

Stanford alumni and faculty have created 39,900 companies since the 1930s, which if gathered collectively into an independent nation would constitute the world’s 10^th largest economy.

Companies founded by Stanford alumni include tech giants like Google, Hewlett-Packard and Cisco Systems, companies that form the backbone of Silicon Valley, as well as a continuing stream of startups that feed the region’s innovation pipeline and contribute to its robust economy.

Although Stanford is best known for its contributions to Silicon Valley, the university’s influence stretches beyond high technology to include automaker Tesla Motors, financial companies like Charles Schwab and widely recognized consumer brands like Gap, Nike, Netflix and Trader Joe’s.

The study also includes a look at the rise of social innovation at the university, estimating that graduates and faculty have created more than 30,000 non-profit organizations. Among the best-known of these is Kiva, a microfinance organization, The Special Olympics, and Acumen Fund, which supports entrepreneurs in developing economies.

Statewide, California is home to an estimated 18,000 firms created by Stanford alumni,  generating annual worldwide sales of about $1.27 trillion and employing more than 3 million people.