Gibrat´s law in Brazilian franchising: an empirical note
The paper investigates lognormality in the context of firm size distribution for the Brazilian franchising segment. That implication of Gibrat´s law-GL is considered on a yearly basis under two settings. The evidence, for both the totality of firms and for mature firms at least 5 years old, was obtained in terms of kernel density estimations and by the use of the Shapiro-Wilk normality test. The results indicate the rejection of the lognormality implication of GL and thus suggest the rejection of the law despite the apparently more favorable environment of the franchising segment.
Volume (Year): 33 (2013)
Issue (Month): 1 ()
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- Marcelo Resende, 2004. "Lei de Gibrat na Indústria Brasileira: Evidência Empírica," Economia, ANPEC - Associação Nacional dos Centros de Pósgraduação em Economia [Brazilian Association of Graduate Programs in Economics], vol. 5(2), pages 221-268.
- D.B. Audretsch & L. Klomp & E. Santarelli & A.R. Thurik, 2004.
"Gibrat's Law: Are the Services Different?,"
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- Roy Thurik & Enrico Santarelli & David Audretsch & Luuk Klomp, 2002. "Gibrat's Law: Are the Services Different?," Scales Research Reports H200201, EIM Business and Policy Research.
- Lu�s M B Cabral & Jos� Mata, 2003.
"On the Evolution of the Firm Size Distribution: Facts and Theory,"
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American Economic Association, vol. 93(4), pages 1075-1090, September.
- Cabral, Luís M B & Mata, José, 2001. "On the Evolution of the Firm Size Distribution: Facts and Theory," CEPR Discussion Papers 3045, C.E.P.R. Discussion Papers.
- Vining, Daniel R, Jr, 1976. "Autocorrelated Growth Rates and the Pareto Law: A Further Analysis," Journal of Political Economy, University of Chicago Press, vol. 84(2), pages 369-80, April.
- Luis Otávio Facanha & Marcelo Resende & Vicente Cardoso & Bruno H. Schröder, 2011. "Survival of New Firms in the Brazilian Franchising Segment: An Empirical Study," CESifo Working Paper Series 3388, CESifo Group Munich.
- John Sutton, 1997. "Gibrat's Legacy," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 40-59, March.
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