Explaining the distribution of firm growth rates

By Giulio Bottazzi, A. Secchi. 2006

407 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Management of Technology and Innovation, Management Science and Operations Research

View Paper: https://www.semanticscholar.org/paper/8f6268a00c32523e4da5de2a09f644c9f0e6474b

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Citations in the corpus

Financial constraints and firm dynamics (2014, background): “…because invariably observed in empirical data across different countries and at different levels of sectoral aggre ation (cfr. Stanley et al., 1996; Bottazzi and Secchi, 2006).15 The dashed line describes the possible distributional effects that could plausibly emerge under the influence of…”
A Closer Look at Serial Growth Rate Correlation (2006, background): “The explanation offered by Bottazzi and Secchi (2006) hinges on the notion of increasing returns in the growth process, which would lead us to expect positive autocorrelation in annual growth rates.”
Firm Growth: Empirical Analysis (2010, background): “A relatively recent finding is that the Laplace (or symmetric exponential) distribution is a good approximation to the empirical density (Stanley, Amaral, Buldyrev, Havlin, Leschhorn, Maass, Salinger, and Stanley, 1996; Bottazzi and Secchi, 2006).”
Age and firm growth. Evidence from three European countries (2013, background): “Just to mention a few of them: Geroski and Gugler (2004), Bottazzi and Secchi (2003) and Bottazzi and Secchi (2006).”
Like milk or wine: Does firm performance improve with age? (2013, result): “In line with previous work (e.g. Bottazzi and Secchi, 2006), we observe that the growth rate distributions are ‘tentshaped’, indicating that most firms have growth rates close to zero while a nonnegligible proportion of firms experience rapid growth or decline.”
Are output growth-rate distributions fat-tailed? some evidence from OECD countries (2008, methodology): “We fit the data of the three, apparently skewed, series with an asymmetric EP distribution (Bottazzi and Secchi, 2006b), whose density is given by g x; al, ar, bl, br, u D { K 1e 1 bl ∣∣ x u al ∣∣bl , x < u K 1e 1 br ∣∣ x u ar ∣∣br , x ½ u 9 18 The D’Agostino skewness test performs quite well in…”
Technical Change and Industrial Dynamics as Evolutionary Processes (2009, background): “Otherwise, (ii) no strikingly robust relationship appears between size and average rates of growth (cf. Mansfield, 1962; Hall, 1987; Kumar, 1985; Bottazzi et al., 2003; and Bottazzi and Secchi, 2006; among others).”
High-growth firms: Introduction to the special section (2014, background): “…rates (log differences) have been shown to resemble a Laplace distribution (see Figure 1) with its characteristic “tent-shape” (Stanley et al., 1996; Bottazzi and Secchi, 2006), with most firms not growing at all, and only a few with high growth.1 This suggests that the more interesting phenomena…”
Schumpeter meeting Keynes: A policy-friendly model of endogenous growth and business cycles (2010, background): “…parameters of exponential-power (Subbotin) distributions27 shows that pooled firm growth-rate distributions are ‘‘tent-shaped’’ with tails fatter than the Gaussian benchmark (see Table 4 and, for a comparison with the empirical evidence and some interpretation, see Bottazzi and Secchi, 2003, 2006).”
Is the R&D behaviour of fast-growing SMEs different? Evidence from CIS III data for 16 countries (2008, background): “Stanley et al. 1996; Bottazzi and Secchi 2006 ; H o¨lzl and Friesenbichler 2008).”