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Do firms share the same functional form of their growth rate distribution? A new statistical test

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  • Jos`e T. Lunardi
  • Salvatore Miccich`e
  • Fabrizio Lillo
  • Rosario N. Mantegna
  • Mauro Gallegati

Abstract

We introduce a new statistical test of the hypothesis that a balanced panel of firms have the same growth rate distribution or, more generally, that they share the same functional form of growth rate distribution. We applied the test to European Union and US publicly quoted manufacturing firms data, considering functional forms belonging to the Subbotin family of distributions. While our hypotheses are rejected for the vast majority of sets at the sector level, we cannot rejected them at the subsector level, indicating that homogenous panels of firms could be described by a common functional form of growth rate distribution.

Suggested Citation

  • Jos`e T. Lunardi & Salvatore Miccich`e & Fabrizio Lillo & Rosario N. Mantegna & Mauro Gallegati, 2011. "Do firms share the same functional form of their growth rate distribution? A new statistical test," Papers 1103.2234, arXiv.org.
  • Handle: RePEc:arx:papers:1103.2234
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    File URL: http://arxiv.org/pdf/1103.2234
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    Cited by:

    1. Kaldasch, Joachim, 2012. "Evolutionary model of the growth and size of firms," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 391(14), pages 3751-3769.

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