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Corporate growth convergence in Europe

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Author Info
Paul Geroski
Klaus Gugler

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Abstract

It is widely believed that the implementation of the Single Market Programme in 1992 has induced a transformation in industrial structures across Europe. Some people believe that it has driven Europe towards a common industrial structure. However, using a newly available database covering nearly every firm above 100 employees in 14 European countries over the time period 1994 to 1998, the hypothesis of convergence in corporate sizes within industries is unambiguously rejected by the data. A Gibrat process best describes the growth of very large and mature firms, but smaller and younger firms depart from this prediction. Pre-post 1992 comparisons using another database for larger listed firms reveal that the speed of convergence actually decreased post-1992. Copyright 2004, Oxford University Press.

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File URL: http://hdl.handle.net/10.1093/oep/gpf055
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Publisher Info
Article provided by Oxford University Press in its journal Oxford Economic Papers.

Volume (Year): 56 (2004)
Issue (Month): 4 (October)
Pages: 597-620
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Handle: RePEc:oup:oxecpp:v:56:y:2004:i:4:p:597-620

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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    Other versions:
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    Other versions:
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Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Harabi, Najib, 2003. "Déterminants de la croissance des entreprises: Une analyse empirique du Maroc
    [Determinants of Firm Growth: An Empirical Analysis from Morocco]    ," MPRA Paper 4440, University Library of Munich, Germany. [Downloadable!]
  2. Alex Coad & Rekha Rao & Federico Tamagni, 2008. "Growth Processes of Italian Manufacturing Firms," LEM Papers Series 2008/20, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy. [Downloadable!]
    Other versions:
  3. Gerrit de Wit & Haibo Zhou, 2009. "Determinants and dimensions of firm growth," Scales Research Reports H200903, EIM Business and Policy Research. [Downloadable!]
  4. Harald Oberhofer & Michael Pfaffermayr, . "Firm Growth in Multinational Corporate Groups," Working Papers 2008-10, Faculty of Economics and Statistics, University of Innsbruck. [Downloadable!]
  5. Alexander Coad & Jagannadha Pawan Tamvada, 2008. "The Growth and Decline of Small firms In Developing Countries," Papers on Economics and Evolution 2008-08, Max Planck Institute of Economics, Evolutionary Economics Group. [Downloadable!]
  6. Alex Coad, 2008. "Firm growth and scaling of growth rate variance in multiplant firms," Economics Bulletin, Economics Bulletin, vol. 12(9), pages 1-15. [Downloadable!]
    Other versions:
  7. Harald Oberhofer, 2009. "Firm growth, European industry dynamics and domestic business cycles," Working Papers 2009-18, Faculty of Economics and Statistics, University of Innsbruck. [Downloadable!]
  8. Hans-Friedrich Eckey & Matthias Türck, 2006. "Convergence of EU-Regions. A Literature Report," Discussion Papers in Economics 80/06, University of Kassel, Institute of Economics. [Downloadable!]
  9. A. Arrighetti & A. Ninni, 2009. "Firm size and growth opportunities: a survey," Economics Department Working Papers 2009-EP05, Department of Economics, Parma University (Italy). [Downloadable!]
  10. Harabi, Najib, 2005. "Determinants of Firm Growth: An Empirical Analysis from Morocco," MPRA Paper 4394, University Library of Munich, Germany. [Downloadable!]
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