Employer-to-Employer Flows in the United States: Estimates Using Linked Employer-Employee Data

Bjelland, Melissa; Fallick, Bruce; Haltiwanger, John; McEntarfer, Erika

doi:10.2139/ssrn.1688329

Cited by 13 publications

(18 citation statements)

References 11 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…for a full quarter at an establishment in period t but not in period t + 1. The quarterly separation rate in the data averages 7%, slightly lower than estimates for the broader economy of close to 11% (Bjelland et al, 2007), but not surprising given the age, gender, and educational profile of workers in software. The restriction that individuals in the sample be employed for a full quarter at each employer also eliminates workers with very transient spells in the industry.…”

Section: Job Mobilitycontrasting

confidence: 52%

Job hopping, earnings dynamics, and industrial agglomeration in the software publishing industry

Freedman¹

2008

Journal of Urban Economics

101

View full text Add to dashboard Cite

Section: Job Mobilitycontrasting

confidence: 52%

Job hopping, earnings dynamics, and industrial agglomeration in the software publishing industry

Freedman¹

2008

Journal of Urban Economics

101

View full text Add to dashboard Cite

“…Fact 2 confirms evidence about the procyclicality of employment-toemployment flows (Fallick and Fleischman, 2004;Nagypál, 2008;Bjelland et al ., 2011) and the countercyclicality of unemployment-to-employment transitions (Elsby et al ., 2009), which were also found for some European economies by Burda and Wyplosz (1994). Fact 4 confirms the evidence for hirings provided by Moscarini and Postel-Vinay (2012) for the US economy as well as for Denmark, France, and Brazil, and qualifies it for separations.…”

supporting

confidence: 59%

The Importance of Two‐Sided Heterogeneity for the Cyclicality of Labour Market Dynamics

Bachmann

David

2019

The Manchester School

View full text Add to dashboard Cite

Using administrative data on individual workers’ employment history and firms, we investigate the cyclicality of worker flows on the German labour market. Focusing on heterogeneities on both sides of the labour market, we find that small firms hire much more workers from unemployment than large firms, and that they do so at the very beginning of an economic expansion. Later on in the expansion, overall hirings more frequently result from direct job‐to‐job transitions to larger firms. Transitions from unemployment to employment at large firms are generally found to be more (pro‐)cyclical. However, this stylized fact disappears when the composition of the workforce is controlled for.

show abstract

“…Moreover, young workers have lesser or uncertain skills and abilities, which are not typically resolved until they have gained sufficient job experience (Johnson, 1978). This can lead to higher employer-to-employer turnover among young workers (Bjelland, Fallick, Haltiwanger, & McEntarfer, 2011), which in turn affects a firm's human capital stock and consequently the probability of obtaining follow-up funding, leading to firm failure. By providing a more stable human capital environment and having more experience, an older management team can help the firm receive follow-up funding and may also reduce the probability of firm failure.…”

Section: Hypothesesmentioning

confidence: 99%

Equity crowdfunding in Germany and the United Kingdom: Follow‐up funding and firm failure

Hornuf

Schmitt

Stenzhorn

2018

Corporate Governance

116

View full text Add to dashboard Cite

Manuscript type Empirical Research question/issue Today, startups frequently obtain financing via the Internet through many small contributions of nonsophisticated investors. Yet, little is known whether these startups can ultimately build enduring businesses. This study investigates the determinants of follow‐up funding and firm failure after an equity crowdfunding campaign has taken place. Research findings/insights We use hand‐collected data from 13 different equity crowdfunding portals and 413 firms that ran at least one successful equity crowdfunding campaign in Germany or the United Kingdom between 2011 and 2016. Our findings show that German firms that received equity crowdfunding stood a higher chance of obtaining follow‐up funding through business angels or venture capitalists but also had a higher likelihood of failure. The number of senior managers and the number of initial venture capital investors both had a positive impact on obtaining postcampaign financing, whereas the average age of the senior management team had a negative impact. The number of initial venture capital investors and the valuation of the firm were significant predictors increasing the hazard of firm failure, whereas the number of senior managers and the amount raised during previous equity crowdfunding campaigns had a negative impact. Theoretical/academic implications This study provides some first empirical evidence regarding the firm and campaign characteristics that determine follow‐up funding and firm failure after an equity crowdfunding campaign has taken place. Given the absence of research on this topic so far, this study inevitably remains original and exploratory to some extent. The empirical findings suggest various avenues of research for human capital theory, organizational ecology, and the comparative corporate governance literature. Practitioner/policy implications Identifying influencing factors of follow‐up funding and firm survival is important to make this new and potentially welfare enhancing form of entrepreneurial finance more predictable by decreasing the risk of individual investments. Furthermore, this study offers insights to policy makers, which are currently expected to implement appropriate regulations for this new market segment. In addition, it provides important insights for portal managers as well as firms raising capital via equity crowdfunding, which may learn about their chances to build an enduring business. https://youtu.be/w_4lIfnOaQY

show abstract

Employer-to-Employer Flows in the United States: Estimates Using Linked Employer-Employee Data

Cited by 13 publications

References 11 publications

Job hopping, earnings dynamics, and industrial agglomeration in the software publishing industry

Job hopping, earnings dynamics, and industrial agglomeration in the software publishing industry

The Importance of Two‐Sided Heterogeneity for the Cyclicality of Labour Market Dynamics

Equity crowdfunding in Germany and the United Kingdom: Follow‐up funding and firm failure

Contact Info

Product

Resources

About