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

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

doi:10.17016/feds.2007.30

Cited by 45 publications

(65 citation statements)

References 8 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Moreover, young workers have lesser or uncertain skills and abilities, which are not typically resolved until they have gained sufficient job experience (Johnson, ). This can lead to higher employer‐to‐employer turnover among young workers (Bjelland, Fallick, Haltiwanger, & McEntarfer, ), 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.Hypothesis After a successful ECF campaign has taken place, a higher average age of the management team increases the firm's probability of receiving follow‐up funding.Hypothesis After a successful ECF campaign has taken place, a higher average age of the management team decreases the probability of firm failure.…”

Section: Theory and 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

Section: Theory and 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

show abstract

“…Past research on E‐to‐E flows indicates “the pace of E‐to‐E flows is high, representing approximately 4% of employment and 30% of separations each quarter” (Bjelland, Fallick, Haltiwanger, & McEntarfer, ). Fallick and Fleischman () show that 1.7% of their sample changed their employer within 1 month and 4.4% perform on‐the‐job search.…”

mentioning

confidence: 99%

Effort reduction of employer‐to‐employer changers: Empirical evidence from football

Weimar

Scharfenkamp

2019

Manage Decis Econ

View full text Add to dashboard Cite

We investigate changes in effort investment of employees who still fulfill a contract with their current employer but already signed a follow‐up contract with a new employer (employer‐to‐employer change). Because effort and outside contract assignments are hard to measure in firms, we use running data from professional football (n = 26,577) to proxy effort decisions. Fixed effect regressions reveal a statistically significant but weak reduction in a player's effort after signing a follow‐up contract with a new club. Because we find a statistically significant effort reduction in public sports, this effect might be even larger in less transparent labor markets.

show abstract

“…2 2 See Martins and Esteves (2008) for a different analysis of worker interfirm mobility, based on the case of Brazil. See also Bjelland et al (2007) for recent evidence of interfirm mobility in the United States. …”

mentioning

confidence: 99%

Paying More to Hire the Best? Foreign Firms, Wages, and Worker Mobility

Martins

2011

Economic Inquiry

View full text Add to dashboard Cite

Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent nonprofit organization supported by Deutsche Post World Net. The center is associated with the University of Bonn and offers a stimulating research environment through its international network, workshops and conferences, data service, project support, research visits and doctoral program. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. Terms of use: Documents in D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. A revised version may be available directly from the author. In the context of the debate on the labour-market consequences of globalisation, we examine worker mobility in order to identify the wage differences between foreign and domestic firms. Using matched employer-employee panel data for Portugal, we consider virtually all spells of interfirm mobility over a period of ten years. We find that foreign firms offer significantly more generous wage policies, although there is also a (smaller) selection effect. The results are robust to the consideration of wage growth differences, the case of displaced workers and different subsets of workers. JEL Classification:J31, J63, F23

show abstract

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

Cited by 45 publications

References 8 publications

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

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

Effort reduction of employer‐to‐employer changers: Empirical evidence from football

Paying More to Hire the Best? Foreign Firms, Wages, and Worker Mobility

Contact Info

Product

Resources

About