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While Labour Hoarding May Be Over, Insiders’ Control Is Not. Determinants Of Employment Growth In Polish Large Firms, 1996-2001

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Kate Bishop ()
Tomasz Mickiewicz ()

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Abstract

This paper examines the determinants of employment changes using a panel of Polish large firms during the period 1996-2001. We investigate the impact of wages, output growth, investment, firm size and sectors upon employment, focusing on the asymmetry hypothesis. We find that investment plays an important role in enhancing employment growth. We also notice that employment dynamics is not affected by alternative wages and therefore appears consistent with the ‘right to manage’ model. Furthermore, unlike the early transition period, we can confirm that employment adjusts to positive sales growth, not just to decline as found in studies on earlier periods (K?ll?, 1998). This reflects that labour hoarding can no longer be a factor, which decreased employment elasticity in times of positive demand shocks. Interestingly, large state companies appear to cut employment in response to output growth, when one controls for investment. A result, which may be consistent with the insiders (employee) control model.

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Paper provided by William Davidson Institute at the University of Michigan Stephen M. Ross Business School in its series William Davidson Institute Working Papers Series with number 2003-593.

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Length: 49 pages
Date of creation: 01 Jul 2003
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Handle: RePEc:wdi:papers:2003-593

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Keywords: EMPLOYMENT; TRANSITION; ASSYMETRY; PRIVATISATION; INSIDERS;

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Find related papers by JEL classification:
C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data
J23 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Demand
P31 - Economic Systems - - Socialist Institutions and Their Transitions - - - Socialist Enterprises and Their Transitions

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    Other versions:
  3. Bronwyn H. Hall & Jacques Mairesse & Benoit Mulkay, 1998. "Firm-level investment in France an the United States: an exploration of what we have learned in twenty years," IFS Working Papers W98/10, Institute for Fiscal Studies.
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  4. Jozef Konings and Hartmut Lehmann & Jozef Konings and Hartmut Lehmann, 2001. "Marshall and Labour Demand in Russia: Going Back to Basics," William Davidson Institute Working Papers Series 392, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
    Other versions:
  5. Swati Basu & Saul Estrin & Jan Svejnar, 2000. "Employment and Wages in Enterprises Under Communism and in Transition: Evidence from Central Europe and Russia," William Davidson Institute Working Papers Series 114, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  6. Brown, James N & Ashenfelter, Orley, 1986. "Testing the Efficiency of Employment Contracts," Journal of Political Economy, University of Chicago Press, vol. 94(3), pages S40-S87, June. [Downloadable!] (restricted)
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  7. Irena Grosfeld & Jean-Francois Nivet, 1997. "Firms' Heterogeneity in Transition: Evidence from a Polish Data Set," William Davidson Institute Working Papers Series 47, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
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  16. Tomasz Mickiewicz & Kate Bishop, 2003. "Wage Determination: Privatised, New Private And State Owned Companies. Empirical Evidence From Panel Data," William Davidson Institute Working Papers Series 584, William Davidson Institute at the University of Michigan Stephen M. Ross Business School. [Downloadable!]
  17. Haskel, Jonathan & Kersley, Barbara & Martin, Christopher, 1997. "Labour Market Flexibility and Employment Adjustment: Micro Evidence from UK Establishments," Oxford Economic Papers, Oxford University Press, vol. 49(3), pages 362-79, July. [Downloadable!] (restricted)
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  19. Currie, Janet, 1991. "Employment Determination in a Unionized Public-Sector Labor Market: The Case of Ontario's School Teachers," Journal of Labor Economics, University of Chicago Press, vol. 9(1), pages 45-66, January. [Downloadable!] (restricted)
    Other versions:
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