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Gibrat´s law in Brazilian franchising: an empirical note

  • Marcelo Resende

    ()

    (Instituto de Economia, Universidade Federal do Rio de Janeiro)

  • Vicente Cardoso

    ()

    (Banco Nacional de Desenvolvimento Econômico e Social)

Registered author(s):

    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.

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    File URL: http://www.accessecon.com/Pubs/EB/2013/Volume33/EB-13-V33-I1-P24.pdf
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    Article provided by AccessEcon in its journal Economics Bulletin.

    Volume (Year): 33 (2013)
    Issue (Month): 1 ()
    Pages: 247-256

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    Handle: RePEc:ebl:ecbull:eb-12-00703
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    1. 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.
    2. D.B. Audretsch & L. Klomp & E. Santarelli & A.R. Thurik, 2004. "Gibrat's Law: Are the Services Different?," Review of Industrial Organization, Springer, vol. 24(3), pages 301-324, 05.
    3. Lu�s M B Cabral & Jos� Mata, 2003. "On the Evolution of the Firm Size Distribution: Facts and Theory," American Economic Review, American Economic Association, vol. 93(4), pages 1075-1090, September.
    4. 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.
    5. John Sutton, 1997. "Gibrat's Legacy," Journal of Economic Literature, American Economic Association, vol. 35(1), pages 40-59, March.
    6. 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.
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