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Employment Generation Potential of New, Technology-Based Firms during a Recessionary Period: The Case of Finland

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  • Autio, Erkko
  • Parhankangas, Annaleena

Abstract

This article analyzes the employment generation potential of new, technology-based firms during a recessionary period. The empirical data is from Finland, a country that was hit particularly hard by the economic recession between years 1990 and 1993. In spite of the recession, the number of NTBFs (new, technology-based firms) rose by 17 percent from 1986 to 1993. In traditional manufacturing industry branches, the overall employment fell by as much as 33 percent during the same period. Alternative hypotheses to explain the increase in the importance of NTBFs are presented and discussed in the light of research findings. Both flexible specialization and recession-push hypotheses receive support in the empirical data. Copyright 1998 by Kluwer Academic Publishers

Suggested Citation

  • Autio, Erkko & Parhankangas, Annaleena, 1998. "Employment Generation Potential of New, Technology-Based Firms during a Recessionary Period: The Case of Finland," Small Business Economics, Springer, vol. 11(2), pages 113-123, September.
    • Handle: RePEc:kap:sbusec:v:11:y:1998:i:2:p:113-23
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    Cited by:

    1. Riccardo Gianluigi Serio & Maria Michela Dickson & Diego Giuliani & Giuseppe Espa, 2020. "Green Production as a Factor of Survival for Innovative Startups: Evidence from Italy," Sustainability, MDPI, vol. 12(22), pages 1-12, November.
    2. Massimo Colombo & Annalisa Croce & Samuele Murtinu, 2014. "Ownership structure, horizontal agency costs and the performance of high-tech entrepreneurial firms," Small Business Economics, Springer, vol. 42(2), pages 265-282, February.
    3. Autio, Erkko & Yli-Renko, Helena, 1998. "New, technology-based firms in small open economies--An analysis based on the Finnish experience," Research Policy, Elsevier, vol. 26(9), pages 973-987, April.
    4. Mirjam Knockaert & Tom Vanacker, 2013. "The association between venture capitalists’ selection and value adding behavior: evidence from early stage high tech venture capitalists," Small Business Economics, Springer, vol. 40(3), pages 493-509, April.
    5. Ilias A. Makris & Vasilis Nikolaidis & Stavros Stavroyiannis, 2016. "Economic Growth and Exporting Activity: An Empirical Analysis on Greek Industry," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(2), pages 41-52.
    6. Hasan Boudlaie, 2020. "Studying the content characteristics of New Technology-Based Firms," Technium Social Sciences Journal, Technium Science, vol. 3(1), pages 94-111, February.
    7. Dina Cunha & Sandra T. Silva & Aurora A.C. Teixeira, 2013. "Are Academic Spin-Offs necessarily New Technology-Based firms?," FEP Working Papers 482, Universidade do Porto, Faculdade de Economia do Porto.
    8. Makra, Zsolt, 2009. "A technológiai vállalkozások létrejötte, növekedése és gazdasági szerepe a szakirodalom tükrében [The establishment, growth and economic role of technology firms in the light of the specialist lite," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(2), pages 176-186.
    9. M. Knockaert & T. Vanacker, 2011. "The Association between Venture Capitalists’ Selection and Value Adding Behavior: Evidence from Early Stage High Tech Venture Capitalists," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 11/741, Ghent University, Faculty of Economics and Business Administration.
    10. Riccardo Gianluigi Serio & Maria Michela Dickson & Diego Giuliani & Giuseppe Espa, 2020. "Green production as a factor of survival for innovative startups. Evidence from Italy," Papers 2005.12102, arXiv.org.
    11. Olof Ejermo & Jing Xiao, 2014. "Entrepreneurship and survival over the business cycle: how do new technology-based firms differ?," Small Business Economics, Springer, vol. 43(2), pages 411-426, August.

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