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The Influence of Size and R&D on the Growth of Firms in the U.S

  • Saleh Amirkhalkhali

    (Saint Mary's University)

  • Arun K. Mukhopadhyay

    (Saint Mary's University)

Registered author(s):

    This study examines the role of size and R&D in explaining the rate of growth of firms by testing Gibrat's law. In particular, this paper extends earlier studies, by addressing this question: Do the size-growth relationships and the consequent size-distribution of firms depend on whether or not the firms are operating in R&D-intensive industries? The empirical evidence indicates an affirmative answer to this question. Further, our results appear to refute Gibrat's law. Firm growth rates are autocorrelated. There also seems to be adequate evidence showing that larger firms have lower growth rates.

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    File URL: http://college.holycross.edu/RePEc/eej/Archive/Volume19/V19N2P223_233.pdf
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    Article provided by Eastern Economic Association in its journal Eastern Economic Journal.

    Volume (Year): 19 (1993)
    Issue (Month): 2 (Spring)
    Pages: 223-233

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    Handle: RePEc:eej:eeconj:v:19:y:1993:i:2:p:223-233
    Contact details of provider: Postal: c/o Dr. Alexandre Olbrecht, The Anisfield School of Business 205, Ramapo College, 505 Ramapo Valley Road, Ramapo, New Jersey 07430, USA
    Phone: (201) 684-7346
    Web page: http://www.ramapo.edu/eea/journal.htmlEmail:


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    1. Singh, Ajit & Whittington, Geoffrey, 1975. "The Size and Growth of Firms," Review of Economic Studies, Wiley Blackwell, vol. 42(1), pages 15-26, January.
    2. 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.
    3. Chesher, Andrew, 1979. "Testing the Law of Proportionate Effect," Journal of Industrial Economics, Wiley Blackwell, vol. 27(4), pages 403-11, June.
    4. Bronwyn H. Hall, 1986. "The Relationship Between Firm Size and Firm Growth in the U.S. Manufacturing Sector," NBER Working Papers 1965, National Bureau of Economic Research, Inc.
    5. Ijiri, Yuji & Simon, Herbert A, 1974. "Interpretations of Departures from the Pareto Curve Firm-Size Distributions," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 315-31, Part I, M.
    6. Richard R. Nelson & Sidney G. Winter, 1978. "Forces Generating and Limiting Concentration under Schumpeterian Competition," Bell Journal of Economics, The RAND Corporation, vol. 9(2), pages 524-548, Autumn.
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