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Exploring the processes of firm growth: evidence from a vector auto-regression

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  • Alex Coad

Abstract

This article offers many new insights into the processes of firm growth by applying a vector autoregression model to longitudinal panel data on French manufacturing firms. We observe the coevolution of key variables such as growth of employment, sales, gross operating surplus, and labor productivity growth. Preliminary results suggest that employment growth is succeeded by the growth of sales, which in turn is followed by growth of profits. Generally speaking, however, growth of profits is not followed by much employment growth or sales growth. Quantile regressions highlight some asymmetries between negative-growth and fast-growth firms. Copyright 2010 The Author 2010. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

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Bibliographic Info

Article provided by Oxford University Press in its journal Industrial and Corporate Change.

Volume (Year): 19 (2010)
Issue (Month): 6 (December)
Pages: 1677-1703

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Handle: RePEc:oup:indcch:v:19:y:2010:i:6:p:1677-1703

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Cited by:
  1. Colombelli Alessandra & Quatraro Francesco, 2012. "Persistence of innovation and knowledge structure: Evidence from a sample of Italian firms," Department of Economics and Statistics Cognetti de Martiis LEI & BRICK - Laboratory of Economics of Innovation "Franco Momigliano", Bureau of Research in Innovation, Complexity and Knowledge, Collegio 201205, University of Turin.
  2. Alex Coad & Agustí Segarra & Mercedes Teruel, 2010. "Like milk or wine: Does firm performance improve with age?," Working Papers XREAP2010-10, Xarxa de Referència en Economia Aplicada (XREAP), revised Sep 2010.
  3. Martin Binder & Alex Coad, 2010. "Disentangling the Circularity in Sen's Capability Approach – An Analysis of the Co-Evolution of Functioning Achievement and Resources," Papers on Economics and Evolution 2010-04, Philipps University Marburg, Department of Geography.
  4. Lee, Sanghoon, 2014. "The relationship between growth and profit: evidence from firm-level panel data," Structural Change and Economic Dynamics, Elsevier, vol. 28(C), pages 1-11.
  5. Alex Coad & Werner Hölzl, 2010. "Firm Growth: Empirical Analysis," WIFO Working Papers 361, WIFO.
  6. Werner Hölzl, 2012. "Mobility Barriers and the Speed of Market Selection," WIFO Working Papers 437, WIFO.
  7. Alessandra Colombelli & Francesco Quatraro, 2013. "The persistence of firms' knowledge base: A quantile approach to Italian data," Working Papers hal-00867132, HAL.
  8. Francesco Quatraro, 2013. "Co-evolutionary patterns in regional knowledge bases and economic structure: evidence from European Regions," Working Papers hal-00992080, HAL.
  9. Martin Binder & Alex Coad, 2011. "Disentangling the Circularity in Sen’s Capability Approach: An Analysis of the Co-Evolution of Functioning Achievement and Resources," Social Indicators Research, Springer, vol. 103(3), pages 327-355, September.
  10. Martin Binder & Felix Ward, 2011. "The Structure of Happiness: A Vector Autoregressive Approach," Papers on Economics and Evolution 2011-08, Philipps University Marburg, Department of Geography.
  11. Francesco Quatraro, 2012. "The Co-Evolution of Knowledge and Economic Structure: Evidence from European Regions," GREDEG Working Papers 2012-16, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
  12. Alessandra Colombelli & Jackie Krafft & Francesco Quatraro, 2012. "High Growth Firms and Technological Knowledge: Do gazelles follow exploration or exploitation strategies?," Working Papers hal-00666707, HAL.
  13. Wennberg, Karl & Wiklund, Johan & Wright, Mike, 2011. "The effectiveness of university knowledge spillovers: Performance differences between university spinoffs and corporate spinoffs," Research Policy, Elsevier, vol. 40(8), pages 1128-1143, October.

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