High growth firms in employment and productivity: dynamic interactions and the role of financial constraints?
Cristina Guillamón (),
Enrique Moral-Benito () and
Additional contact information
Cristina Guillamón: Banco de España
No 1718, Working Papers from Banco de España, Working Papers Homepage
Using a panel of Spanish firms over the period 2002-2012, we investigate the interactions between high growth episodes in terms of size and productivity. We find that high growth in productivity (size) increases the likelihood of high growth in size (productivity). However, the effect from size to productivity is smaller than the effect from productivity to size. We also explore the potential role of firm-level financial constraints using information from the Central Credit Register (CIR) of Banco de España. Our results indicate that credit constraints hamper high growth episodes in terms of both size and productivity.
Keywords: keyword; high-growth firms; high-impact firms; productivity; panel firm-level data (search for similar items in EconPapers)
JEL-codes: L25 L11 D24 C23 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-bec, nep-eff, nep-ent, nep-eur, nep-sbm and nep-tid
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
http://www.bde.es/f/webbde/SES/Secciones/Publicaci ... /17/Fich/dt1718e.pdf First version, May 2017 (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:bde:wpaper:1718
Access Statistics for this paper
More papers in Working Papers from Banco de España, Working Papers Homepage Contact information at EDIRC.
Bibliographic data for series maintained by María Beiro. Electronic Dissemination of Information Unit. Research Department. Banco de España ().