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Firm Growth: A Survey

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  • Alexander Coad

Abstract

We survey the phenomenon of the growth of firms drawing on literature from economics, management, and sociology. We begin with a review of empirical 'stylised facts’ before discussing theoretical contributions. Firm growth is characterized by a predominant stochastic element, making it difficult to predict. Indeed, previous empirical research into the determinants of firm growth has had a limited success. We also observe that theoretical propositions concerning the growth of firms are often amiss. We conclude that progress in this area requires solid empirical work, perhaps making use of novel statistical techniques.

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  • Alexander Coad, 2007. "Firm Growth: A Survey," Papers on Economics and Evolution 2007-03, Philipps University Marburg, Department of Geography.
  • Handle: RePEc:esi:evopap:2007-03
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    More about this item

    Keywords

    Firm Growth; Size Distribution; Growth Rates Distribution; Gibrat’s Law; Theory of the Firm; Diversification; 'Stages of Growth’ models Length 73 pages;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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