How to Construct Nationally Representative Firm-Level Data from the Orbis Global Database: New Facts on SMEs and Aggregate Implications for Industry Concentrations

• 成果类型: Article
• 署名作者: Kalemli-Ozcan, Sebnem; Sorensen, Bent E.; Villegas-Sanchez, Carolina; Volosovych, Vadym; Yesiltas, Sevcan
• 署名单位: National Bureau of Economic Research; University System of Maryland; University of Maryland College Park; University of Houston System; University of Houston; Centre for Economic Policy Research - UK; Universitat Ramon Llull; Escuela Superior de Administracion y Direccion de Empresas (ESADE); Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; Koc University
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MACROECONOMICS
• ISSN/ISSBN: 1945-7707
• DOI: 10.1257/mac.20220036
• 发表日期: 2024
• 页码: 353-374
• 关键词: us industries

摘要

We construct nationally representative firm -level longitudinal data for European countries using financial statements from the Orbis database. We validate our data by comparing its coverage and firm size distribution to official statistics. We showcase two applications to show the importance of firm representativeness in understanding macroeconomic outcomes. First , we show that small and medium-sized firms account for a large share of aggregate economic activity. Second , we document that firm representativeness is important for calculating industry concentration trends over time as the share of economic activity accounted by top firms in an industry changes with the firm samples used. ( JEL C81, D22, G30, L11, L25, L60 )