Capital Structure and Labour Demand: Investigations Using German Micro Data
AbstractThe paper analyses the interaction between capital structure and employment decisions of firms. For this purpose, a theoretical model is developed in which a firm determines employment along an optimal path taking into account financial considerations. The empirical analysis using West German micro data proves that a negative relationship exists between employment and the debt-asset ratio of the firm. We also demonstrate that as real wages (sales) increase, employment decreases (increases).
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Bibliographic InfoArticle provided by Department of Economics, University of Oxford in its journal Oxford Bulletin of Economics & Statistics.
Volume (Year): 61 (1999)
Issue (Month): 2 (May)
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Other versions of this item:
- Michael Funke & Wolf Maurer & Holger Strulik, 1998. "Capital Structure and Labour Demand: Investigations Using German Micro Data," Quantitative Macroeconomics Working Papers 19801, Hamburg University, Department of Economics.
- J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
- C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Longitudinal Data; Spatial Time Series
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- Erkki Koskela & Rune Stenbacka, 2002. "Equilibrium Unemployment and Credit Market Imperfections: The Critical Role of Labour Mobility," CESifo Working Paper Series 654, CESifo Group Munich.
- Erkki Koskela & Rune Stenbacka, 2000. "Capital Structure, Wage Bargaining and Employment," CESifo Working Paper Series 275, CESifo Group Munich.
- Koskela, Erkki & Stenbacka, Rune, 2004. "Profit Sharing, Credit Market Imperfections and Equilibrium Unemployment," IZA Discussion Papers 1020, Institute for the Study of Labor (IZA).
- Olga Bohachova & Bernhard Boockmann & Claudia M. Buch, 2011.
"Labor Demand During the Crisis: What Happened in Germany?,"
IAW Discussion Papers
76, Institut für Angewandte Wirtschaftsforschung (IAW).
- Olga Bohachova & Bernhard Boockmann & Claudia M. Buch, 2011. "Labor Demand During the Crisis: What Happened in Germany?," CESifo Working Paper Series 3625, CESifo Group Munich.
- Bohachova, Olga & Boockmann, Bernhard & Buch, Claudia M., 2011. "Labor Demand During the Crisis: What Happened in Germany?," IZA Discussion Papers 6074, Institute for the Study of Labor (IZA).
- Erkki Koskela & Rune Stenbacka, 2001. "Equilibrium Unemployment with Credit and Labour Market Imperfections," CESifo Working Paper Series 419, CESifo Group Munich.
- Fehn, Rainer, 2000. "Financing structural change, venture capital, and unemployment: what is the role of investor protection?," Wirtschaftswissenschaftliche BeitrÃ¤ge 36, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.
- Berthold, Norbert & Fehn, Rainer, 2002. "Struktureller Wandel, new economy und Beschäftigungsentwicklung: welche Rolle spielen die institutionellen Rahmenbedingungen auf dem Kapitalmarkt?," Wirtschaftswissenschaftliche BeitrÃ¤ge 53, Julius-Maximilians-Universität Würzburg, Lehrstuhl für Volkswirtschaftslehre, insbes. Wirtschaftsordnung und Sozialpolitik.
- Erdem Basci & Yusuf Soner Baskaya & Mustafa Kilinc, 2011. "Financial Shocks and Industrial Employment," Working Papers 1112, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
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