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Corporate Growth and Industrial Dynamics: Evidence from French Manufacturing Author info | Abstract | Publisher info | Download info | Related research | Statistics Giulio Bottazzi
Alex Coad
Nadia Jacoby
Angelo Secchi
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registered author(s):
We report several characteristics of industrial dynamics, including the firm size distribution, Gibrat's Law, and also the distribution of growth rates and their autocorrelation. We use a variety of econometric techniques, looking first at the aggregate and subsequently at a sectoral level. Many of our results corroborate previous findings, but there are also several surprises. For example, although previous findings on US and Italian data find that the growth rate distribution follows the Laplace density (i.e. is 'tent-shaped'), the French growth rates distribution has noticeably fatter tails. Growth rates depend negatively on size but the relationship does not seem to be linear, with larger firms possibly growing faster than medium-sized ones. It also appears that growth rate autocorrelation may vary with firm size: autocorrelation is negative for smaller firms, but the magnitude seems to decrease with size and becomes positive for larger firms.
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Paper provided by Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy in its series LEM Papers Series with number
2005/21.
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Date of creation: 11 Sep 2005Date of revision:
Handle: RePEc:ssa:lemwps:2005/21Contact details of provider: Postal: Piazza dei Martiri della Liberta, 33, 56127 Pisa Phone: +39-50-883343 Fax: +39-50-883344 Email: Web page: http://www.lem.sssup.it/ More information through EDIRC
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Keywords: Industrial dynamics ; Gibrat's Law ; Firm Growth ; Aggregation. ; Other versions of this item:
This paper has been announced in the following NEP Reports :
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.)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: 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!]
Alex Coad, 2006.
"Understanding the processes of firm Growth - a closer look at serial growth rate correlation ,"
Cahiers de la Maison des Sciences Economiques
r06051, Université Panthéon-Sorbonne (Paris 1).
[Downloadable!]
Giorgio Fagiolo & Mauro Napoletano & Andrea Roventini, 2008.
"Are output growth-rate distributions fat-tailed? some evidence from OECD countries ,"
Journal of Applied Econometrics ,
John Wiley & Sons, Ltd., vol. 23(5), pages 639-669.
[Downloadable!]
Other versions:
Giorgio Fagiolo & Mauro Napoletano & Andrea Roventini, 2006.
"Are Output Growth-Rate Distributions Fat-Tailed? Some Evidence from OECD Countries ,"
LEM Papers Series
2006/23, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
[Downloadable!] Giorgio Fagiolo & Mauro Napoletano & Andrea Roventini, 2006.
"Are Output Growth-Rate Distributions Fat-Tailed? Some Evidence from OECD Countries ,"
Working Papers
36, Università di Verona, Dipartimento di Scienze economiche.
[Downloadable!] Alex Coad, 2006.
"Towards an Explanation of the Exponential Distribution of Firm Growth Rates ,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-00113346_v1, HAL.
[Downloadable!]
Alex Coad, 2006.
"Towards an explanation of the exponential distribution of firm growth rates ,"
Cahiers de la Maison des Sciences Economiques
r06025, Université Panthéon-Sorbonne (Paris 1).
[Downloadable!]
Alexander Coad & Rekha Rao, 2007.
"Firm Growth and R&D Expenditure ,"
Papers on Economics and Evolution
2007-10, Max Planck Institute of Economics, Evolutionary Economics Group.
[Downloadable!]
Alexander Coad, 2007.
"Disentangling the firm growth process: evidence from a recursive panel VAR ,"
Papers on Economics and Evolution
2007-15, Max Planck Institute of Economics, Evolutionary Economics Group.
[Downloadable!]
Alex Coad & Werner Hölzl, 2009.
"On the Autocorrelation of Growth Rates ,"
Journal of Industry, Competition and Trade ,
Springer, vol. 9(2), pages 139-166, June.
[Downloadable!] (restricted)
Alex Coad, 2006.
"A Closer Look at Serial Growth Rate Correlation ,"
LEM Papers Series
2006/29, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
[Downloadable!]
Other versions: Carolina Castaldi & Sandro Sapio, 2008.
"Growing like mushrooms? Sectoral evidence from four large European economies ,"
Journal of Evolutionary Economics ,
Springer, vol. 18(3), pages 509-527, August.
[Downloadable!] (restricted)
Alex Coad & Rekha Rao, 2006.
"Innovation and Firm Growth in High-Tech Sectors: A Quantile Regression Approach ,"
LEM Papers Series
2006/18, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
[Downloadable!]
Other versions:
Alex Coad & Rekha Rao, 2007.
"Innovation and Firm Growth in High-Tech Sectors: A Quantile Regression Approach ,"
Open Discussion Papers in Economics
57, The Open University, Faculty of Social Sciences, Department of Economics.
Coad, Alex & Rao, Rekha, 2008.
"Innovation and firm growth in high-tech sectors: A quantile regression approach ,"
Research Policy ,
Elsevier, vol. 37(4), pages 633-648, May.
[Downloadable!] (restricted) 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: Sandro Sapio & Grid Thoma, 2006.
"The Growth of Industrial Sectors: Theoretical Insights and Empirical Evidence from U.S. Manufacturing ,"
LEM Papers Series
2006/09, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
[Downloadable!]
Carolina Castaldi & Giovanni Dosi, 2007.
"The patterns of output growth of firms and countries: new evidence on scale invariances and scale specificities ,"
LEM Papers Series
2007/14, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
[Downloadable!]
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