Entrepreneurial Efficiency: An Empirical Framework and Evidence
AbstractThis paper examines a particular aspect of entrepreneurship, namely firms' activities in adapting to idiosyncratic environmental changes by appropriately reallocating resources. It presents an empirical framework that examines the social value of firms' abilities to predict and adapt to the movement of idiosyncratic shocks. Using the method, the quantitative effect of firms' prediction ability on Total Factor Productivity (TFP) is investigated using data from Japan's Census of Manufacturing.
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Bibliographic InfoPaper provided by EconWPA in its series Macroeconomics with number 0411006.
Date of creation: 10 Nov 2004
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entrepreneurship; prediction ability; total factor productivity; allocative efficiency; aggregate production function.;
Find related papers by JEL classification:
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- O40 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - General
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