Common properties and sectoral specificities in the dynamics of US manufacturing companies

被引:104
作者
Bottazzi, G [1 ]
Secchi, A [1 ]
机构
[1] Scuola Super Sant Anna, I-56100 Pisa, Italy
关键词
firm growth; industrial sectors; Laplace distribution; power law;
D O I
10.1023/B:REIO.0000031366.28559.c1
中图分类号
F [经济];
学科分类号
02 ;
摘要
The size distribution and growth rate dynamics of U. S. companies have been extensively studied by many authors. In this paper, using the COMPUSTAT database, we extend the analysis to disaggregated data, studying 15 sectors of the U. S. manufacturing industry. The sectoral investigation reveals the presence of general statistical properties that can be considered valid across all the studied sectors. In particular, the probability density of firms growth rates invariably displays a characteristic tent shape and the relation between the size of a firm and the variance of its rates of growth is characterized, in different sectors, by very similar scaling relations. The presence of characteristics that are robust and sectoral invariant hints at the existence of generic statistical properties shaping the dynamic of firms across the whole industry.
引用
收藏
页码:217 / 232
页数:16
相关论文
共 18 条
[1]  
Amaral LAN, 1997, PHYSICA A, V244, P1, DOI 10.1016/S0378-4371(97)00301-4
[2]   A stochastic model of firm growth [J].
Bottazzi, G ;
Secchi, A .
PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS, 2003, 324 (1-2) :213-219
[3]   Why are distributions of firm growth rates tent-shaped? [J].
Bottazzi, G ;
Secchi, A .
ECONOMICS LETTERS, 2003, 80 (03) :415-420
[4]   Corporate growth and industrial structures: some evidence from the Italian manufacturing industry [J].
Bottazzi, G ;
Cefis, E ;
Dosi, G .
INDUSTRIAL AND CORPORATE CHANGE, 2002, 11 (04) :705-723
[5]   Innovation and corporate growth in the evolution of the drug industry [J].
Bottazzi, G ;
Dosi, G ;
Lippi, M ;
Pammolli, F ;
Riccaboni, M .
INTERNATIONAL JOURNAL OF INDUSTRIAL ORGANIZATION, 2001, 19 (07) :1161-1187
[6]  
BOTTAZZI G, 2001, 20011 LEM S ANN SCH
[7]  
DUNNE T, 1988, RAND J ECON, V104, P671
[9]  
Gibrat R., 1931, INEGALITES EC