Risk, Recessions, and Resilience: Towards Sustainable Local Labor Markets through Employment Portfolio Analysis
| Autor: | Stephan Weiler, Bharman Gulati |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2021 |
| Předmět: |
Entrepreneurship
Financial economics media_common.quotation_subject Geography Planning and Development risk–return tradeoff 0211 other engineering and technologies TJ807-830 02 engineering and technology Management Monitoring Policy and Law TD194-195 Recession employment portfolio Renewable energy sources economic resilience 0502 economics and business Economics business survival GE1-350 050207 economics Resilience (network) Modern portfolio theory media_common ComputingMilieux_THECOMPUTINGPROFESSION Environmental effects of industries and plants Renewable Energy Sustainability and the Environment 05 social sciences 021107 urban & regional planning Metropolitan area Environmental sciences Labor market dynamics Local economy Volatility (finance) |
| Zdroj: | Sustainability, Vol 13, Iss 7926, p 7926 (2021) Sustainability Volume 13 Issue 14 |
| ISSN: | 2071-1050 |
| Popis: | This paper explores the role of local labor market dynamics on the survival of new businesses. The characteristics of the local labor market are likely to influence the survival of new businesses, the level of entrepreneurship, and the resilience of the regional economy. We apply portfolio theory to evaluate employment-based and income-based measures of risk-and-return trade-offs in local labor markets on new business survival in the United States. Our results show that volatility in local labor markets has a positive impact on new business survival, especially in Metropolitan Statistical Areas. The results are robust across different timeframes, including during economic downturns, thus highlighting the contribution of new businesses in developing the resilience of the local economy, and further promoting sustainable regional economic development. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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