Financing, Ownership, and Performance: A Novel, Longitudinal Firm-Level Database

J. David Brown, Steven Davis, Lucia Foster, John Haltiwanger and John Sabelhaus

No 33254, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: The Census Bureau’s Longitudinal Business Database (LBD) underpins many studies of firm-level behavior. It tracks longitudinally all employers in the nonfarm private sector but lacks information about business financing and owner characteristics. We address this shortcoming by linking LBD observations to firm-level data drawn from several large Census Bureau surveys. The resulting Longitudinal Employer, Owner, and Financing (LEOF) database contains more than 3 million observations at the firm-year level with information about start-up financing, current financing, owner demographics, ownership structure, profitability, and owner aspirations – all linked to annual firm-level employment data since the firm hired its first employee. Using the LEOF database, we document trends in owner demographics and financing patterns and investigate how these business characteristics relate to firm-level employment outcomes.

JEL-codes: C81 E32 L26 (search for similar items in EconPapers)
Date: 2024-12
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Related works:
Working Paper: Financing, Ownership, and Performance: A Novel, Longitudinal Firm-Level Database (2024)
Working Paper: Financing, Ownership, and Performance: A Novel, Longitudinal Firm-Level Database (2024)
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