Why are distributions of firm growth rates tent-shaped?

By Giulio Bottazzi, A. Secchi. 2003

164 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/d82e1a6c0a441076c9729bfd888a4e211ca736f0

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Citations in the corpus

Do liquidity constraints matter in explaining firm size and growth? Some evidence from the Italian manufacturing industry (2006, background): “…2002); (ii) the (limit) size distribution departs from log-normality (Bottazzi, Dosi, Lippi, Pammolli, and Riccaboni, 2001); (iii) growth rate distributions are not normally distributed (Bottazzi and Secchi, 2003). tailed analysis of other determinants of firm growth (Becchetti and Trovato, 2002).”
Are output growth-rate distributions fat-tailed? some evidence from OECD countries (2008, methodology): “5 More on fitting EP distributions to economic data is in Bottazzi and Secchi (2003a, 2003b).”
The Economic Contribution of High-Growth Firms: Do Policy Implications Depend on the Choice of Growth Indicator? (2014, background): “2001; Bottazzi and Secchi 2003). This finding contradicts the implications of Gibrat’s Law, proposed by Robert Gibrat (1931) after he observed that the size distribution of French manufacturing firms closely resembled the lognormal distribution.”
Are high-growth firms one-hit wonders? Evidence from Sweden (2015, background): “The distribution of firm growth follows the characteristic tent-shape (Figure 1), also found in previous studies (Stanley et al, 1996; Bottazzi and Secchi, 2003; Bottazzi et al, 2011).”
‘Better late than never’: the interplay between green technology and age for firm growth (2017, background): “Further, as is normally the case when investigating firm growth (Buchinsky 1998; Bottazzi and Secchi 2003), quantile analysis is preferable over standard least squares for different reasons linked to the distribution of the growth rates in our sample (see Online Appendix A2).”
Technical Change and Industrial Dynamics as Evolutionary Processes (2009, background): “54 see Stanley et al., 1996; and Bottazzi and Secchi , 2003; on US data; Bottazzi et al., 2001; on the international pharmaceutical industry; Bottazzi, Cefis and Dosi , 2002; and Bottazzi et al., 2003; on the Italian industry; and the discussion in Dosi, 2007 55 A suggestive attempt to model…”
New Firm Growth: Exploring Processes and Paths (2006, background): “This phenomenon of autocorrelated growth was early recognized by Ijiri and Simon ( 1967 ) and is recently formalized by Botazzi and Secchi ( 2003 ) who consider this to be a self‐reinforcing or “positive feedback” effect (cf.”
Emergent Macroeconomics: An Agent-Based Approach to Business Fluctuations (2008, unknown): “, 2003) and aggregate and firm’s growth rates are Laplace distributed (Stanley et al., 1996; Bottazzi and Secchi, 2003).”
Invariances and Diversities in the Evolution of Manufacturing Industries (2003, unknown): “A ﬁrst source of correlation is likely to be the very competition mechanism: if the market share of one ﬁrm grows, the one of its competitor is bound to shrink (for a formulation explicitly yielding tent-shape statistical properties cfr. Bottazzi and Secchi (2003b)).”
Statistical Regularities in the Evolution of Industries. A Guide through some Evidence and Challenges for the Theory (2005, unknown): “Figures 3 and 4, taken from Bottazzi et al. (2003) on three Italian manufacturing sectors, vividly illustrate such inter-sectoral diversity. where S 0 is the smallest firm size and S i is the size of the i-firm, as increasingly ranked.”