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Subject

Firm's Employment Growth in Metropolitan versus Non-Metropolitan Area
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수도권과 비수도권의 기업 고용 성장률 분석

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Type
Academic journal
Author
Minjung Kim (충남대학교) Seonuk Park (한국은행)
Journal
management & economic research institute Journal of Management and Economics Vol.43 No.3 KCI Accredited Journals
Published
2021.8
Pages
141 - 165 (25page)

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Topic
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Result
Firm's Employment Growth in Metropolitan versus Non-Metropolitan Area
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Abstract· Keywords

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This study analyzes the determinants of firms’ employment growth in metropolitan versus non-metropolitan areas, using firm-level unbalanced panel data of South Korean manufacturing firms. The system GMM is used to estimate the dynamic employment growth of firms. The empirical findings suggest that the younger firms experience faster employment growth. In addition, the positive effect of firms’ sales on employment growth is found in metropolitan areas, but not in non-metropolitan areas. R&D intensity has a positive effect on employment growth, while export intensity has no significant effect. The cash flow ratio has a positive effect on the employment growth of firms; this effect is stronger for firms in lower quantiles of employment growth based on the results of the quantile regression. Therefore, when the economy encounters a negative economic shock such as the COVID-19 pandemic, firms experience slower or negative employment growth. As a result, government policy that relaxes the financial constraints of firms is more critical to firms" ability to maintain employment. In addition, the R&D incentive policy that encourages firm’s R&D investment can faciliate labor market recovery.

Contents

요약
I. 서론
Ⅱ. 실증분석
Ⅲ. 결론
참고문헌
Abstract

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