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Job creation and destruction in the corporate sector: the relative importance of births, deaths and..

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Abstract

A major new database (OneSource) of UK companies is used to estimate the contribution of independent companies of all sizes to employment change in the corporate sector over the period 19901992. Our estimates cover jobs gained and lost by corporate births and deaths as well as employment change in surviving companies. There is no tendency for the corporate birth rate to decrease monotonically with increases in company size and there is certainly no case for postulating that new companies tend to have one optimum size such as Minimum Efficient Scale. In contrast, the corporate death rate does decrease with increases in company size. Over this period the net effect of births and deaths was negative for virtually all sizes of company. Overall, 0.614 million jobs were gained by births but 1.119 million lost by deaths. Another 600 thousand jobs were lost in surviving companies. Much of this loss occurred in large companies but medium size companies (33-512 employees) also shed jobs in large numbers. Taking account of births, deaths and survivors, only companies with 1-8 employees were net creators of jobs over this period. But the absolute numbers created were fairly small to set against losses amongst larger companies.

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  • P E Hart, 1998. "Job creation and destruction in the corporate sector: the relative importance of births, deaths and..," National Institute of Economic and Social Research (NIESR) Discussion Papers 134, National Institute of Economic and Social Research.
    • Handle: RePEc:nsr:niesrd:134
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    Cited by:

    1. Nigel Pain & Desirée Van Welsum, 2003. "Untying The Gordian Knot: The Multiple Links Between Exchange Rates and Foreign Direct Investment," Journal of Common Market Studies, Wiley Blackwell, vol. 41(5), pages 823-846, December.
    2. Joseph P. Byrne & E. Philip Davis, 2005. "The Impact of Short‐ and Long‐run Exchange Rate Uncertainty on Investment: A Panel Study of Industrial Countries," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 67(3), pages 307-329, June.
    3. Bianca Clausen, 2008. "Real Effective Exchange Rate Uncertainty, Threshold Effects, and Aggregate Investment – Evidence from Latin American Countries," IWP Discussion Paper Series 02/2008, Institute for Economic Policy, Cologne, Germany.
    4. Havva Koc, 2020. "Trilemma Hypothesis: A Different Perspective on Turkey Economy," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 70(2), pages 383-412, December.
    5. P. Hart, 2000. "Theories of Firms' Growth and the Generation of Jobs," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 17(3), pages 229-248, November.

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