Invariances and Diversities in the Patterns of Industrial Evolution: Some Evidence from Italian Manufacturing Industries
AbstractThis work explores and compares some basic properties of corporate growth process at both aggregate manufacturing level and disaggregated sectoral levels. Using an extensive dataset on Italian manufacturing firms, we investigate which properties of firm growth dynamics are robust under disaggregation. We compare the results obtained with three different definitions of firm size, namely total sales, number of employees and value added. Our analysis suggests that while different sectors are characterized by significant differences in firm size distributions, in the degrees of concentration and in the autoregressive structure of the growth processes, there are also regularities which hold across all of them, such as the approximate unit root nature of the growth process and the power exponential shape of the growth rates density. Together, these “stylized facts” suggest challenging puzzles on the drivers of corporate growth and the resulting industrial structures. Copyright Springer 2007
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Bibliographic InfoArticle provided by Springer in its journal Small Business Economics.
Volume (Year): 29 (2007)
Issue (Month): 1 (June)
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Web page: http://www.springerlink.com/link.asp?id=100338
aggregation; concentration; firm growth; size distribution; C1; D2; L1;
Find related papers by JEL classification:
- C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
- D2 - Microeconomics - - Production and Organizations
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
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