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Employment Growth in High-Tech New Ventures

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  • C. TIMOTHY KOELLER
  • THOMAS G. LECHLER

Abstract

We specify and estimate a model of the early employment growth of technology-driven new ventures. Our estimated model is derived from labor demand theory. A data set of 100 German firms is used to conduct this analysis. The study's findings support the relevance of the theory as applied to these nascent firms. Employment growth is significantly enhanced in ventures exhibiting high profits, experienced founders, formal information processes, and outsourced product distribution. Our findings also confirm aspects of Penrose's theory of firm growth suggesting that transactions costs associated with larger founder teams may inhibit employment growth.

Suggested Citation

  • C. Timothy Koeller & Thomas G. Lechler, 2006. "Employment Growth in High-Tech New Ventures," Journal of Labor Research, Transaction Publishers, vol. 27(2), pages 135-147, April.
    • Handle: RePEc:tra:jlabre:v:27:y:2006:i:2:p:135-147
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    Cited by:

    1. Müller, Kathrin, 2009. "Employment growth in newly established firms: is there evidence for academic entrepreneur's human capital depreciation?," ZEW Discussion Papers 09-050, ZEW - Leibniz Centre for European Economic Research.

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