UCL Discovery
UCL home » Library Services » Electronic resources » UCL Discovery

Inherited labour hoarding, insiders and employment growth. Panel data results: Poland, 1996-2002

Mickiewicz, T.; Gerry, C.; Bishop, K.; (2004) Inherited labour hoarding, insiders and employment growth. Panel data results: Poland, 1996-2002. (Economics Working Papers 37). Centre for the Study of Economic and Social Change in Europe, SSEES, UCL: London, UK. Green open access

[img]
Preview
PDF
17539.pdf

Download (405kB)

Abstract

Using panel data pertaining to large Polish (non-financial) firms this paper examines the determinants of employment change during the period 1996-2002. Paying particular attention to the asymmetry hypothesis we investigate the impact of own wages, outside wages, output growth, regional characteristics and sectoral affiliation on the evolution of employment. In keeping with the 'right to manage' model we find that employment dynamics are not affected negatively by alternative wages. Furthermore, in contrast to the early transition period, we find evidence that employment levels respond to positive sales growth (in all but state firms). The early literature, (e.g. Kőllő, 1998) found that labour hoarding lowered employment elasticities in the presence of positive demand shocks. Our findings suggest that inherited labour hoarding may no longer be a factor. We argue that the present pattern of employment adjustment is better explained by the role of insiders. This tentative conclusion is hinged on the contrasting behaviour of state and privatised companies and the similar behaviour of privatised and new private companies. We conclude that lower responsiveness of employment to both positive and negative changes in revenue in state firms is consistent with the proposition that rent sharing by insiders is stronger in the state sector.

Type: Working / discussion paper
Title: Inherited labour hoarding, insiders and employment growth. Panel data results: Poland, 1996-2002
Open access status: An open access version is available from UCL Discovery
Publisher version: http://www.ssees.ucl.ac.uk/wp37sum.htm
Language: English
Keywords: Employment, transition, asymmetry, ownership, insiders
UCL classification: UCL > Provost and Vice Provost Offices > UCL SLASH > SSEES
URI: https://discovery.ucl.ac.uk/id/eprint/17539
Downloads since deposit
1,299Downloads
Download activity - last month
Download activity - last 12 months
Downloads by country - last 12 months

Archive Staff Only

View Item View Item