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Regions, Human Capital and New Firm Formation
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics.
2013 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This thesis shows the importance of human capital at the individual, firm, and regional level through its effects on returns to education, firm productivity and new firm formation. The thesis further shows the importance of banks as a determinant for new firm formation at the local level. The thesis comprises of five chapters, one introductory chapter followed by four independent chapters, empirical in their nature.

The second chapter in the thesis, Regional Variations of Returns to Education, analyses individuals’ return to education in different regional contexts. The results show that returns to education differ according to type of location. Conclusively, the often-assumed hypothesis of equal returns to education for all regions in a country can be rejected. The second chapter, Human Capital and Firm Performance, uses a firm perspective and tests how human capital, within and outside the firm, influences firm productivity. Results show that both types of human capital are positively associated with firm productivity. Overall, it is firm attributes that explain most of the productivity variance. The third chapter, Accessibility to Human Capital and New Firm Formation, compares how human capital influences new firm formation in different regional categories. Overall, it is the access to human capital at the local and intra-regional level that increases the new firm formation rate. However, the influence from human capital differs across the regional categories and their position in the hierarchical system. The last chapter, Banks and New Firm Formation, analyses how different characteristics of the local bank sector influence new firm formation. The average size of bank branches per capita, independent banks, bank branches per capita and the competitive level are positively associated with local startups.

Place, publisher, year, edition, pages
Jönköping: Jönköping International Business School , 2013. , 173 p.
Series
JIBS Dissertation Series, ISSN 1403-0470 ; 86
National Category
Social Sciences
Identifiers
URN: urn:nbn:se:hj:diva-20492ISBN: 978-91-86345-39-6 (print)OAI: oai:DiVA.org:hj-20492DiVA: diva2:605373
Public defence
2013-03-08, B1014 at JIBS, Jönköping, 10:00 (English)
Opponent
Supervisors
Available from: 2013-02-14 Created: 2013-02-14 Last updated: 2014-02-03Bibliographically approved
List of papers
1. Regional Variation of Returns to Education
Open this publication in new window or tab >>Regional Variation of Returns to Education
(English)Manuscript (preprint) (Other academic)
National Category
Social Sciences
Identifiers
urn:nbn:se:hj:diva-20489 (URN)
Available from: 2013-02-14 Created: 2013-02-14 Last updated: 2013-02-14Bibliographically approved
2. Human capital in firms and regions: Impact on firm productivity
Open this publication in new window or tab >>Human capital in firms and regions: Impact on firm productivity
2014 (English)In: Papers in regional science (Print), ISSN 1056-8190, E-ISSN 1435-5957, Vol. 93, no 3, 557-575 p.Article in journal (Refereed) Published
Abstract [en]

This paper analyses the importance of human capital for firm productivity and makes a clear distinction between the role of human capital inside and outside of the firm. A multilevel model is used for the business service sector in Sweden controlling for heterogeneity across the industry and municipal level. Human capital in firms in terms of education, experience, and cognitive skills and the firm's overall access to human capital has a positive impact on firm productivity. In addition, firm attributes explain the largest proportion of firm productivity variance.

Keyword
Human capital; firm productivity; employee characteristics; municipal attributes; multilevel model
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-22721 (URN)10.1111/pirs.12005 (DOI)
Available from: 2013-12-13 Created: 2013-12-13 Last updated: 2017-12-06Bibliographically approved
3. Accessibility to human capital and new firm formation
Open this publication in new window or tab >>Accessibility to human capital and new firm formation
2011 (English)In: International Journal of Foresight and Innovation Policy, ISSN 1740-2816, E-ISSN 1740-2824, Vol. 7, no 1/2/3, 7-22 p.Article in journal (Refereed) Published
Abstract [en]

This paper investigates the impact human capital has on new firmformation, traditionally expected to have a positive influence. Since humancapital is partly spatially bounded, the size of local accessibility to humancapital is expected to have a larger impact than regional and nationalinteraction. The empirical analysis is based on data on new firm formationfor Swedish urban areas and accessibility to human capital. In the analysis,the urban areas are divided into several groups. The results indicate that itis the local accessibility to human capital that has a positive impact on new firmformation.

Keyword
human capital, new firm formation, urban areas, accessibility, Sweden
National Category
Economics
Identifiers
urn:nbn:se:hj:diva-17748 (URN)10.1504/IJFIP.2011.040063 (DOI)
Available from: 2012-03-05 Created: 2012-03-05 Last updated: 2017-12-07Bibliographically approved
4. Banks and new firm formation
Open this publication in new window or tab >>Banks and new firm formation
2015 (English)In: Journal of Small Business and Enterprise Development, ISSN 1462-6004, E-ISSN 1758-7840, Vol. 22, no 4, 734-761 p.Article in journal (Refereed) Published
Abstract [en]

Purpose

– The purpose of this paper is to give a nuanced picture of how the local bank sector influences new firm formation and how this differs along the urban-rural hierarchy. Thus, the present paper increases the knowledge concerning the importance of the local bank sector in influencing new firm formation. In this respect, it also sheds light on how banks influence regional growth through their impact on start-ups.

Design/methodology/approach

– The empirical design is based on a cross-sectional approach from 2010, where Swedish municipalities are employed as the unit of observation. To overcome a possible endogeneity problem, an instrumental variable approach is applied. A two-stage least squares approach is employed in which instruments for the local bank sector in 2010 are utilised.

Findings

– The findings present positive relationships among the average size of the bank branches, independent banks per capita, bank branches per capita, bank competition, and the number of local start-ups in Sweden. Hence, access to financial funds is important for new firm formation. When the sample is divided across the urban-rural hierarchy, differences arise concerning the importance of the local bank sector. Independent banks per capita and bank branches per capita tend to have a larger impact on firm formation in rural municipalities.

Originality/value

– This paper is novel in its detailed approach to describing the local bank sector. This topic is important for local and national policy makers, demonstrating the importance of the local bank sector for a growing and healthy regional economy. This study is also the first study on this topic in Sweden.

Keyword
Competition, Financial funds, Local bank sector, New firm formation
National Category
Social Sciences
Identifiers
urn:nbn:se:hj:diva-20491 (URN)10.1108/JSBED-03-2013-0035 (DOI)2-s2.0-84946822061 (Scopus ID)
Available from: 2013-02-14 Created: 2013-02-14 Last updated: 2017-12-06Bibliographically approved

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