Scandinavian Working Papers in Economics

Working Papers,
University of Aarhus, Aarhus School of Business, Department of Economics

No 05-10: Age Structure of the Workforce and Firm Performance.

Christian Grund and Niels WestergÄrd-Nielsen ()
Additional contact information
Christian Grund: Department of Business and Economics, Postal: University of Bonn, BWL II, Adenauerallee 24-42, D-53113 Bonn, Germany
Niels WestergÄrd-Nielsen: Department of Economics, Aarhus School of Business, Postal: The Aarhus School of Business, Prismet, Silkeborgvej 2, DK 8000 Aarhus C, Denmark

Abstract: In this contribution, we examine the interrelation between corporate age structures and firm performance. In particular, we address the issues, whether firms with young rather than older employees are successful and whether firms with homogeneous or heterogeneous workforces are doing well. Several theoretical approaches are discussed with respect to these questions and divergent hypotheses are derived. Using Danish linked employer-employee data, we find that both mean age and dispersion of age in firms are inversely u-shaped related to firm performance.

Keywords: Firm performance; Corporate age structures; Demographic change

JEL-codes: J21; L25; M54

25 pages, January 1, 2005

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05-10_cgnwn.pdf PDF-file 

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