On the evolution of the firm size distribution: Facts and theory

• 成果类型: Article
• 署名作者: Cabral, LMB; Mata, J
• 署名单位: New York University; Universidade Nova de Lisboa
• 刊物名称: AMERICAN ECONOMIC REVIEW
• ISSN/ISSBN: 0002-8282
• DOI: 10.1257/000282803769206205
• 发表日期: 2003
• 页码: 1075-1090
• 关键词: entrepreneurial choice; GROWTH; entry; DYNAMICS; EXIT

摘要

Using a comprehensive data set of Portuguese manufacturing firms, we show that the firm size distribution is significantly right-skewed, evolving over time toward a lognormal distribution. We also show that selection accounts for very little of this evolution. Instead, we propose a simple theory based on financing constraints. A calibrated version of our model does a good job at explaining the evolution of the firm size distribution.