Firm growth : a survey
AbstractWe survey the phenomenon of the growth of firms drawing on literature from economics, management and sociology. We begin with a review of empirical "stylised facts" before discussing theoretical contributions. Firm growth is characterized by a predominant stochastic element, making it difficult to predict. Indeed, previous empirical research into the determinants of firm growth has had a limited success. We also observe that theoretical propositions concerning the growth of firms are often amiss. We conclude that progress in this area requires solid empirical work, perhaps making use of novel statistical techniques.
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Bibliographic InfoPaper provided by Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne in its series Documents de travail du Centre d'Economie de la Sorbonne with number r07024.
Length: 73 pages
Date of creation: May 2007
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Firm growth; size distribution; growth rates distribution; Gibrat's law; theory of the firm; diversification; "stages of growth" models.;
Other versions of this item:
- L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
- L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-06-30 (All new papers)
- NEP-CSE-2007-06-30 (Economics of Strategic Management)
- NEP-ENT-2007-06-30 (Entrepreneurship)
- NEP-TID-2007-06-30 (Technology & Industrial Dynamics)
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