Workforce reduction and firm performance: a comparison between French publicly-listed and non-listed companies, 1994-2000
Using an exhaustive database with labour, accounting and financial market information on French firms (1994-2000), the authors analyse the causes and the consequences of a workforce reduction in 1996 - the year chosen as reference - on firms' performance in a long term perspective. One important contribution to the topic consists in comparing the estimates of publicly-listed and non-listed companies. As far as we know, the comparative method had not be used before. A logistic model shows that in both groups, headcount reduction occurs in less-productive and financially distressed firms, resorting to downsizing as a defensive response to an adverse economic shock. However, the former anticipates better than the latter the decision to eliminate jobs. An econometric model that captures the initial characteristics of the firms, suggests the major performance indicators are significantly improved only for non-listed companies. Yet, there is no net gain on the full period studied.
|Date of creation:||Jun 2007|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00588011|
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References listed on IDEAS
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- Martin N. Baily & Eric J. Bartelsman & John Haltiwanger, 1994.
"Downsizing and productivity growth: myth or reality?,"
Finance and Economics Discussion Series
94-7, Board of Governors of the Federal Reserve System (U.S.).
- Baily, Martin Neil & Bartelsman, Eric J & Haltiwanger, John, 1996. "Downsizing and Productivity Growth: Myth or Reality?," Small Business Economics, Springer, vol. 8(4), pages 259-278, August.
- Martin Neil Baily & Eric J. Bartelsman & John Haltiwanger, 1994. "Downsizing and Productivity Growth: Myth or Reality?," NBER Working Papers 4741, National Bureau of Economic Research, Inc.
- John Haltiwanger & Martin N Baily & Eric J Bartelsman, 1994. "Downsizing and Productivity Growth: Myth or Reality?," Working Papers 94-4, Center for Economic Studies, U.S. Census Bureau.
- repec:sae:ilrrev:v:43:y:1990:i:3:p:203-236 is not listed on IDEAS
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