The growth of business firms: Facts and theory

• 成果类型: Article; Proceedings Paper
• 署名作者: Buldyrev, Sergey V.; Riccaboni, Massimo; Growiec, Jakub; Stanley, H. Eugene; Pammolli, Fabio
• 署名单位: Yeshiva University; Warsaw School of Economics; University of Florence; Boston University
• 刊物名称: JOURNAL OF THE EUROPEAN ECONOMIC ASSOCIATION
• ISSN/ISSBN: 1542-4766
• DOI: 10.1162/jeea.2007.5.2-3.574
• 发表日期: 2007
• 页码: 574-584
• 关键词: innovation; volatility

摘要

We refer to the framework developed by Ijiri and Simon (1977) and to the notion of independent submarkets (Sutton 1998) to provide a simple candidate explanation for the shape of the firm growth distribution based on a model of proportional growth at the level of both the introduction of new products by firms and their size dynamics. We exploit the features of a unique longitudinal data set which covers the entire distribution of products and firms in the worldwide pharmaceutical industry to test the model at different levels of aggregation as well as at different time lags. Econometric investigations show that the model's predictions are in good agreement with empirical evidence.