Arbeitspapier
The growth and human capital structure of new firms over the business cycle
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.
- Sprache
-
Englisch
- Erschienen in
-
Series: ZEW Discussion Papers ; No. 16-079
- Klassifikation
-
Wirtschaft
Business Fluctuations; Cycles
Labor Demand
Entrepreneurship
New Firms; Startups
Firm Performance: Size, Diversification, and Scope
Production, Pricing, and Market Structure; Size Distribution of Firms
Firm Behavior: Empirical Analysis
- Thema
-
Firm growth
Entrepreneurship
Business cycle
Crisis
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Brixy, Udo
Murmann, Martin
- Ereignis
-
Veröffentlichung
- (wer)
-
Zentrum für Europäische Wirtschaftsforschung (ZEW)
- (wo)
-
Mannheim
- (wann)
-
2016
- Handle
- URN
-
urn:nbn:de:bsz:180-madoc-415926
- Letzte Aktualisierung
-
10.03.2025, 11:42 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Brixy, Udo
- Murmann, Martin
- Zentrum für Europäische Wirtschaftsforschung (ZEW)
Entstanden
- 2016
Ähnliche Objekte (12)
The growth and human capital structure of new firms over the business cycle
The Growth and Human Capital Structure of New Firms over the Business Cycle
The growth and human capital atructure of new firms over the business cycle
Careers within firms: Occupational mobility over the life cycle
Search Channels of Workers and Firms over the Business Cycle
Wages, Hours and Human Capital over the Life Cycle
Uncertainty, Imperfect Information, and Expectation Formation over the Firms's Life Cycle
Efficient Labor and Capital Income Taxation over the Life Cycle
Demography, Capital Flows and Asset Allocation over the Life-cycle
Efficient Labor and Capital Income Taxation over the Life Cycle
Housing and debt over the life cycle and over the business cycle
Collusion Over the Business Cycle
The growth and human capital structure of new firms over the business cycle
The Growth and Human Capital Structure of New Firms over the Business Cycle
The growth and human capital atructure of new firms over the business cycle
Careers within firms: Occupational mobility over the life cycle
Search Channels of Workers and Firms over the Business Cycle
Wages, Hours and Human Capital over the Life Cycle
Uncertainty, Imperfect Information, and Expectation Formation over the Firms's Life Cycle
Efficient Labor and Capital Income Taxation over the Life Cycle
Demography, Capital Flows and Asset Allocation over the Life-cycle
Efficient Labor and Capital Income Taxation over the Life Cycle
Housing and debt over the life cycle and over the business cycle
Collusion Over the Business Cycle
The growth and human capital structure of new firms over the business cycle
The Growth and Human Capital Structure of New Firms over the Business Cycle
The growth and human capital atructure of new firms over the business cycle
Careers within firms: Occupational mobility over the life cycle
Search Channels of Workers and Firms over the Business Cycle
Wages, Hours and Human Capital over the Life Cycle
Uncertainty, Imperfect Information, and Expectation Formation over the Firms's Life Cycle
Efficient Labor and Capital Income Taxation over the Life Cycle
Demography, Capital Flows and Asset Allocation over the Life-cycle
Efficient Labor and Capital Income Taxation over the Life Cycle
Housing and debt over the life cycle and over the business cycle