‘Stick to the knitting’ vs. ‘the mysteriously potent charm of diversification’: the Greek evidence

Droucopoulos, Vassilis; Papadogonas, Theodore

doi:10.1002/(sici)1099-1468(199906)20:4<217::aid-mde929>3.0.co;2-c

Cited by 1 publication

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“…This causes a downward bias to job creation and destruction, because jobs created and lost by different establishments of the same firm will cancel out. However, this bias should be considered negligible for Greek manufacturing, since, as Droucopoulos and Papadogonas (1999) report, the proportion of multiplant firms to uniplant firms in Greek manufacturing is 1 to 27. As a result, our measure of job creation and destruction slightly underestimates the true magnitude of job creation and destruction.…”

Section: Methodology and Resultsmentioning

confidence: 99%

Job Creation and Job Destruction in Greek Manufacturing

Voulgaris¹,

Papadogonas²,

Agiomirgianakis³

2005

Rev Development Economics

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This paper examines job construction and destruction patterns in Greek manufacturing for the period 1995–99, just before Greece's entry to the European Monetary Union (EMU). The analysis uses descriptive statistics and regression models and is performed on a longitudinal sample of 6164 firms, classified by size of employment and by manufacturing sector. The results show the dynamic role small‐ and medium‐sized firms play in net employment creation in Greek manufacturing. High technology and capital‐intensive manufacturing sectors contribute mostly to net employment growth. Age of the firm is adversely connected to employment growth, while export activity and location of firms contribute significantly in net job creation. Significant determinants to employment growth are firm size, age, profitability, sales growth, reliance on debt and investment in new fixed assets. Economic policy measures are suggested to promote the establishment and survival of new small manufacturing firms, and the growth of the surviving ones.

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Section: Methodology and Resultsmentioning

confidence: 99%