Big and fragile: when size does not shield from default
AbstractAnalysing a large sample of Italian firms we find that the probability of default increases with size. This contrasts with the common observation, based on measures of exit from business registry data, that firms' death rate is inversely related to the scale of their operation and suggests a rethinking of the economic role of larger companies.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Applied Economics Letters.
Volume (Year): 18 (2011)
Issue (Month): 14 ()
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Web page: http://www.tandf.co.uk/journals/routledge/13504851.html
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- Giulio Bottazzi & Marco Grazzi & Angelo Secchi & Federico Tamagni, 2011.
"Financial and Economic Determinants of Firm Default,"
UniversitÃ© Paris1 PanthÃ©on-Sorbonne (Post-Print and Working Papers)
- Giulio Bottazzi & Marco Grazzi & Angelo Secchi & Federico Tamagni, 2011. "Financial and economic determinants of firm default," Journal of Evolutionary Economics, Springer, vol. 21(3), pages 373-406, August.
- Giulio Bottazzi & Marco Grazzi & Angelo Secchi & Federico Tamagni, 2009. "Financial and economic determinants of firm default," LEM Papers Series 2009/06, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
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