29 research outputs found
Wages in high-tech start-ups - do academic spin-offs pay a wage premium?
Due to their origin from universities, academic spinâoffs operate at the forefront of the
technological development. Therefore, spinâoffs exhibit a skillâbiased labour demand, i.e. spinâoffs
have a high demand for employees with cutting edge knowledge and technical skills. In order to accommodate
this demand, spinâoffs may have to pay a relative wage premium compared to other
highâtech startâups. However, neither a comprehensive theoretical assessment nor the empirical
literature on wages in startâups unambiguously predicts the existence and the direction of wage differentials
between spinâoffs and nonâspinâoffs. This paper addresses this research gap and examines
empirically whether or not spinâoffs pay their employees a wage premium. Using a unique linked
employerâemployee data set of German highâtech startâups, we estimate Mincerâtype wage regressions
applying the HausmanâTaylor panel estimator. Our results show that spinâoffs do not pay a
wage premium in general. However, a notable exception from this general result is that spinâoffs that
commercialise new scientific results or methods provide higher wages to employees with linkages to
the university sector â either as university graduates or as student workers
Home Firm Performance After Foreign Investments and Divestitures
Being international' has nearly become an undisputed aim for firms in a globalized world. Several papers find a positive relationship between foreign direct investment (FDI) and the home performance of firms. In this paper we address the 'FDI - export' relationship to better understand this pattern. Furthermore, by presenting first results on firm's post-divestiture employment growth at home we are able to provide a more comprehensive view on fi rm performance after stepping in and out of foreign markets. We apply a propensity score matching technique in combination with a difference-in-difference estimator to analyze the performance dynamics of French firms that invested abroad or carried out foreign divestitures during the period 2000-2007. FDI has on average a positive home firm eff ect in terms of export share, operating turnover and employment. Industry differences reveal that firms in high-tech industries experience a strong increase in their home performance, whereas firm performance in low-tech industries increases only moderately in post-investment periods. In contrast, the divestiture impact on the post-divestiture performance is rather negligible.Der Artikel untersucht die Entwicklung des Firmenerfolgs von franzÜsischen Firmen im Heimatmarkt nach ausländischen Markteintritts- und Marktaustrittsentscheidungen im Zeitraum 2000-2007. Hierzu wird ein Propensity Score Matching Verfahren in Kombination mit einem Differenzen-in-Differenzen Schätzer angewandt. Firmen, die erstmalig einen ausländischen Markt ßber Direktinvestitionen betreten, verfßgen im Durchschnitt in den Folgejahren ßber hÜhere Exportintensität, Umsatzentwicklung und Beschäftigungswachstum als vergleichbare Firmen, die zum selben Zeitpunkt nicht ins Ausland gegangen sind. Insbesondere Firmen aus Hochtechnologiebranchen profitieren von einer ßberproportional positiven Firmenentwicklung im Heimatmarkt. Im Gegensatz dazu wirkt sich ein Rßckzug aus ausländischen Märkten nur geringfßgig auf die Unternehmensentwicklung im Inland aus