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Does Local Firm Ownership Matter?

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Author Info

  • David A. Fleming

    (Pennsylvania State University, University Park, PA, USA and The Northeast Regional Center for Rural Development, The Pennsylvania State University, PA, USA)

  • Stephan J. Goetz

    ()
    (Pennsylvania State University, University Park, PA, USA and The Northeast Regional Center for Rural Development, The Pennsylvania State University, PA, USA)

Abstract

A data set for U.S. counties that includes residence status of firm owners is used to assess whether per capita density of locally owned businesses affects local economic growth, compared with nonlocal ownership. The database also permits stratification of firms across different employment size categories. Economic growth models that control for other relevant factors reveal a positive relationship between density of locally owned firms and per capita income growth but only for small (10-99 employees) firms, whereas the density of large (more than 500 workers) firms not owned locally has a negative effect. These results provide strong evidence that local ownership matters for economic growth but only in the small size category. Results are robust across rural and urban counties.

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File URL: http://edq.sagepub.com/content/25/3/277.abstract
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Bibliographic Info

Article provided by in its journal Economic Development Quarterly.

Volume (Year): 25 (2011)
Issue (Month): 3 (August)
Pages: 277-281

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Handle: RePEc:sae:ecdequ:v:25:y:2011:i:3:p:277-281

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Related research

Keywords: firm size; firm ownership locus; economic growth;

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Cited by:
  1. Goetz, Stephan J. & Fleming, David A. & Rupasingha, Anil, 2012. "The Economic Impacts of Self-Employment," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 44(03), August.
  2. Mark D., Partridge & M. Rose, Olfert, 2010. "The Winner's Choice: Sustainable Economic Strategies for Successful 21st Century Regions," MPRA Paper 29646, University Library of Munich, Germany.
  3. Anil Rupasingha, 2013. "Locally owned: Do local business ownership and size matter for local economic well-being?," Community and Economic Development Discussion Paper 2013-01, Federal Reserve Bank of Atlanta.

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