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Does Size Matter in Firm Performance? Evidence from US Public Firms

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  • Jim Lee

Abstract

This paper reexamines the determinants of firm performance and, in particular, the role that firm size plays in profitability. A fixed-effects dynamic panel data model for over 7,000 US publicly-held firms during the period 1987-2006 provides evidence that profit rates are positively correlated with firm size in a non-linear manner, holding an array of firm- and industry-specific characteristics constant. In addition, industry-specific fixed effects play a negligible role in the presence of firm-specific fixed effects.

Suggested Citation

  • Jim Lee, 2009. "Does Size Matter in Firm Performance? Evidence from US Public Firms," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 16(2), pages 189-203.
  • Handle: RePEc:taf:ijecbs:v:16:y:2009:i:2:p:189-203
    DOI: 10.1080/13571510902917400
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    References listed on IDEAS

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    1. Annette N. Brown & J. David Brown, 1998. "Does Market Structure Matter? New Evidence from Russia," William Davidson Institute Working Papers Series 188, William Davidson Institute at the University of Michigan.
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    Cited by:

    1. Bartha, Zoltan, 2015. "The Effect of the Tax System as an Institutional Factor on the Business Structure in Europe," MPRA Paper 68027, University Library of Munich, Germany, revised 13 Sep 2015.
    2. repec:ibn:ijefaa:v:9:y:2017:i:8:p:66-75 is not listed on IDEAS
    3. Diem Nguyen & Vicki McCracken & Ken Casavant & Eric Jessup, 2011. "Geographic location, ownership and profitability of Washington log trucking companies," Regional Science Policy & Practice, Wiley Blackwell, vol. 3(2), pages 115-125, June.
    4. Močnik Dijana & Širec Karin, 2015. "Determinants Of A Fast-Growing Firm’s Profits: Empirical Evidence For Slovenia," Scientific Annals of Economics and Business, Sciendo, vol. 62(1), pages 37-54, April.
    5. Ajay Thapa, 2015. "Determinants of microenterprise performance in Nepal," Small Business Economics, Springer, vol. 45(3), pages 581-594, October.
    6. repec:gam:jsusta:v:11:y:2019:i:13:p:3602-:d:244397 is not listed on IDEAS
    7. repec:spd:journl:v:68:y:2018:i:1:p:43-58 is not listed on IDEAS
    8. Owen P. Hall Jr. & Darrol J. Stanley, 2012. "A comparative modelling analysis of firm performance," International Journal of Data Analysis Techniques and Strategies, Inderscience Enterprises Ltd, vol. 4(1), pages 43-56.
    9. Ksenija Dencic-Mihajlov, 2014. "Profitability During the Financial Crisis Evidence from the Regulated Capital Market in Serbia," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 12(1), pages 7-33.
    10. repec:eco:journ2:2017-04-23 is not listed on IDEAS
    11. repec:ags:ifaamr:264195 is not listed on IDEAS
    12. Sebastian LAZAR, 2016. "Determinants Of Firm Performance: Evidence From Romanian Listed Companies," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 17, pages 53-69, June.
    13. repec:gam:jsusta:v:11:y:2019:i:1:p:243-:d:195244 is not listed on IDEAS
    14. repec:kap:jmgtgv:v:21:y:2017:i:3:d:10.1007_s10997-016-9363-3 is not listed on IDEAS
    15. Ahmed Agyapong & Kofi Amanor & Kofi Poku, 2016. "Antecedents To The Implementation Of Hybrid Strategy In A Dynamic Business Environment — An Econometric Analysis Of Business Decisions In Ghana," Journal of Developmental Entrepreneurship (JDE), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-24, December.
    16. repec:spr:cejnor:v:26:y:2018:i:3:d:10.1007_s10100-017-0514-7 is not listed on IDEAS
    17. repec:pjm:journl:v:xxiii:y:2018:i:1:p:25-48 is not listed on IDEAS
    18. repec:taf:intecj:v:31:y:2017:i:4:p:647-669 is not listed on IDEAS

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