Job Creation, Small vs. Large vs. Young, and the SBA
J. David Brown,
John Earle and
Yana Morgulis
No 21733, NBER Working Papers from National Bureau of Economic Research, Inc
Abstract:
Analyzing a list of all Small Business Administration (SBA) loans in 1991 to 2009 linked with annual information on all U.S. employers from 1976 to 2012, we apply detailed matching and regression methods to estimate the variation in SBA loan effects on job creation and firm survival across firm age and size groups. The number of jobs created per million dollars of loans generally increases with size and decreases in age. The results imply that fast-growing firms (“gazelles”) experience the greatest financial constraints to growth, while the growth of small, mature firms is least financially constrained. The estimated association between survival and loan amount is larger for younger and smaller firms facing the “valley of death”.
JEL-codes: H81 (search for similar items in EconPapers)
Date: 2015-11
New Economics Papers: this item is included in nep-bec, nep-ent, nep-lma and nep-sbm
Note: PR
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Citations: View citations in EconPapers (7)
Published as Job Creation, Small versus Large versus Young, and the SBA , J. David Brown, John S. Earle, Yana Morgulis. in Measuring Entrepreneurial Businesses: Current Knowledge and Challenges , Haltiwanger, Hurst, Miranda, and Schoar. 2017
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Working Paper: Job Creation, Small vs. Large vs. Young, and the SBA (2015) 
Working Paper: Job Creation, Small vs. Large vs. Young, and the SBA (2015) 
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