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Firm Growth, Size, Age and Behavior in Japanese Manufacturing

  • Takehiko Yasuda

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    This paper investigates the relationship between firm growth and firm size, firm age and firm behavior, such as R&D activity and subcontracting, based on the data of nearly 14,000 Japanese manufacturing firms. “The stylized facts” that firm size and age have a negative effect on firm growth are confirmed in the case of Japanese manufacturing firms. Also, a firm’s survivability rises with its size and age. R&D expenditure per employee has a significant positive effect on firm growth, which justifies the argument made by Hall (1987). Although subcontracting to only one company has no significant effect on firm growth, it has a significant positive effect on a firm’s survivability. In addition, subcon-tracting firms depending on only one company as a customer are subject to no significant age effects. This possibly suggests that the age effect itself has some relation to the extent of the trade network. Copyright Springer Science + Business Media, Inc. 2005

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    File URL: http://hdl.handle.net/10.1007/s11187-005-7568-y
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    Article provided by Springer in its journal Small Business Economics.

    Volume (Year): 24 (2005)
    Issue (Month): 1 (December)
    Pages: 1-15

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    Handle: RePEc:kap:sbusec:v:24:y:2005:i:1:p:1-15
    Contact details of provider: Web page: http://www.springerlink.com/link.asp?id=100338

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    1. Okamuro, Hiroyuki, 2001. "Risk sharing in the supplier relationship: new evidence from the Japanese automotive industry," Journal of Economic Behavior & Organization, Elsevier, vol. 45(4), pages 361-381, August.
    2. John Haltiwanger & Martin N Baily & Eric J Bartelsman, 1994. "Downsizing and Productivity Growth: Myth or Reality?," Working Papers 94-4, Center for Economic Studies, U.S. Census Bureau.
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    4. Harhoff, Dietmar & Stahl, Konrad & Woywode, Michael, 1996. "Legal Form, Growth and Exit of West German Firms - Empirical Results for Manufacturing, Construction, Trade and Service Industries," CEPR Discussion Papers 1401, C.E.P.R. Discussion Papers.
    5. McPherson, Michael A., 1996. "Growth of micro and small enterprises in southern Africa," Journal of Development Economics, Elsevier, vol. 48(2), pages 253-277, March.
    6. Taye Mengistae, 1996. "Age-size effects in productive efficiency: a second test of the passive learning model," CSAE Working Paper Series 1996-02, Centre for the Study of African Economies, University of Oxford.
    7. Evans, David S., 1986. "Tests of Alternative Theories of Firm Growth," Working Papers 86-36, C.V. Starr Center for Applied Economics, New York University.
    8. Jovanovic, Boyan, 1982. "Selection and the Evolution of Industry," Econometrica, Econometric Society, vol. 50(3), pages 649-70, May.
    9. Variyam, Jayachandran N. & Kraybill, David S., 1992. "Empirical evidence on determinants of firm growth," Economics Letters, Elsevier, vol. 38(1), pages 31-36, January.
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