Power-Law and Log-Normal Distributions in Firm Size Displacement Data
AbstractWe have shown that firm size signed displacement data follow not only power-law in the large scale region but also the log-normal distribution in the middle scale one. In the analyses, we employ three databases: high-income data, high-sales data and positive-profits data of Japanese firms. It is particularly worth noting that the growth rate distributions of the firm size displacement have no wide tail which is observed in assets, sales of firms, the number of employees and personal income data. An extended-Gibrat's law is also found in the growth rate distributions. This leads the power-law and the log-normal distributions of the firm size displacement under the detailed balance. --
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Bibliographic InfoPaper provided by Kiel Institute for the World Economy in its series Economics Discussion Papers with number 2008-45.
Date of creation: 2008
Date of revision:
Econophysics; firm size displacement distribution; Pareto's law; log-normal distribution; (non-)Gibrat's law; detailed balance;
Find related papers by JEL classification:
- D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
- D30 - Microeconomics - - Distribution - - - General
- D39 - Microeconomics - - Distribution - - - Other
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- Masashi Tomoyose & Shouji Fujimoto & Atushi Ishikawa, 2008. "Non-Gibrat's law in the middle scale region," Papers 0809.3060, arXiv.org.
- Ishikawa, Atushi, 2006. "Derivation of the distribution from extended Gibrat's law," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 367(C), pages 425-434.
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- Kaushik Matia & Dongfeng Fu & Sergey V. Buldyrev & Fabio Pammolli & Massimo Riccaboni & H. Eugene Stanley, 2005. "Statistical Properties of Business Firms Structure and Growth," Papers physics/0502081, arXiv.org.
- Yoshi Fujiwara & Corrado Di Guilmi & Hideaki Aoyama & Mauro Gallegati & Wataru Souma, 2003.
"Do Pareto-Zipf and Gibrat laws hold true? An analysis with European Firms,"
cond-mat/0310061, arXiv.org, revised Nov 2003.
- Fujiwara, Yoshi & Di Guilmi, Corrado & Aoyama, Hideaki & Gallegati, Mauro & Souma, Wataru, 2004. "Do Pareto–Zipf and Gibrat laws hold true? An analysis with European firms," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 335(1), pages 197-216.
- Ishikawa, Atushi, 2007. "The uniqueness of firm size distribution function from tent-shaped growth rate distribution," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 383(1), pages 79-84.
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