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  1. The growth and human capital structure of new firms over the business cycle
    Author: Brixy, Udo; Murmann, Martin
    Published: 2016
    Publisher:  ZEW, Zentrum für Europäische Wirtschaftsforschung GmbH, Mannheim

    Recent research suggests that employment in young firms is more negatively impacted during economic downturns than employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 15 (2016,79)
    Inter-library loan:
    No inter-library loan

     

    Recent research suggests that employment in young firms is more negatively impacted during economic downturns than employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We complement prior research that is mostly based on aggregate data by analyzing cyclical effects at the firm level. Using new linked employer-employee data on German start-ups we show that under constant human capital of the firms' founders, employment growth in less than 11=2-year-old start-ups reacts countercyclically and employment growth in older start-ups reacts procyclically. The young start-ups realize their countercyclical growth by hiring qualified labor market entrants who might be unable to find employment in incumbent firms during crises. This mechanism is highly important in economic and management terms and has not been revealed by prior research.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/148340
    Series: Discussion paper / ZEW, Zentrum für Europäische Wirtschaftsforschung ; no. 16, 079
    Scope: 1 Online-Ressource (circa 42 Seiten), Illustrationen
  2. The growth and human capital atructure of new firms over the business cycle
    Author: Brixy, Udo; Murmann, Martin
    Published: 21 December 2016
    Publisher:  Institute for Employment Research of the Federal Employment Agency, Nuremberg

    Recent research suggests that employment in young firms is more negatively impacted during economic downturns than employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We... more

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 98 (2016,42)
    Inter-library loan:
    No inter-library loan

     

    Recent research suggests that employment in young firms is more negatively impacted during economic downturns than employment in incumbent firms. This questions the effectiveness of policies that promote entrepreneurship to fight crises. We complement prior research that is mostly based on aggregate data by analyzing cyclical effects at the firm level. Using new linked employer-employee data on German start-ups we show that under constant human capital of the firms' founders, employment growth in less than 11/2-year old start-ups reacts countercyclically and employment growth in older start-ups reacts procyclically. The young start-ups realize their countercyclical growth by hiring qualified labor market entrants who might be unable to find employment in incumbent firms during crises. This mechanism is highly important in economic and management terms and has not been revealed by prior research. Aktuelle Forschungsergebnisse deuten darauf hin, dass junge Unternehmen stärker unter einem wirtschaftlichen Abschwung leiden als ältere Unternehmen. Dies stellt die Effizienz wirtschaftspolitischer Maßnahmen in Frage, die auf eine Förderung der Gründungstätigkeit, zur Überwindung negativer Konsequenzen von Krisen, abzielen. Allerdings basieren bestehende Studien meist auf Analysen aggregierter Daten zu Gründungskohorten, die es nicht erlauben umfassend für eine möglicherweise negative Selektion an Unternehmensgründern während Krisen zu korrigieren. Wir nutzen einen neu entwickelten Linked-Employer-Employee Mikrodatensatz der es ermöglicht das Humankapitals des Unternehmensgründers und dessen Einfluss auf den Unternehmenserfolg über den Konjunkturzyklus konstant zu halten. Damit können wir zeigen, dass Unternehmen, die bis zu 1 ½ Jahre alt sind, ein antizyklisches Beschäftigungswachstum aufweisen, während ältere Unternehmen prozyklisch wachsen. Die jungen Unternehmen realisieren ihr antizyklisches Wachstum indem sie in der Krise verstärkt junge qualifizierte Berufsanfänger einstellen. Auf diese Art profitieren junge Unternehmen vermutlich von einem zurückhaltenden Einstellungsverhalten älterer Unternehmen. Dies ist ein wichtiger und neuer Aspekt der in der ökonomischen und betriebswissenschaftlichen Forschung zu Unternehmensgründungen bislang nicht gezeigt wurde.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/148860
    Series: IAB-discussion paper ; 2016, 42
    Scope: 1 Online-Ressource (circa 47 Seiten), Illustrationen