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Corporate Growth and Industrial Dynamics: Evidence from French Manufacturing

journal contribution
posted on 2023-06-08, 09:29 authored by Giulio Bottazzi, Alex Coad, Nadia Jacoby, Angelo Secchi
This work explores basic properties of the size and growth rates distributions of firms at the aggregate and disaggregate levels. Using an extensive dataset on French manufacturing firms, we investigate which properties of firm size distributions and growth dynamics characterize the aggregate dynamics and are, at the same time, robust under disaggregation. Our analysis is based on nonlinear robust regression methods which have never been applied before to this kind of data. The growth rates distributions we observe are well described by a Subbotin distribution with a shape parameter significantly lower than 1, suggesting a noticeable departure from the Laplace behaviour reported in previous works on Italian and the US data. At the same time, the variance of growth rates depends negatively on size and the relationship does not seem to be linear, with larger firms possibly displaying lower variability in their growth dynamics. At the disaggregate level, we observe significant heterogeneity in the firm size distributions across sectors, while the shape of the sectoral growth rates density displays a surprising degree of homogeneity.

History

Publication status

  • Published

Journal

Applied Economics

ISSN

0003-6846

Publisher

Taylor and Francis

Issue

1

Volume

43

Page range

103-116

Department affiliated with

  • SPRU - Science Policy Research Unit Publications

Full text available

  • No

Peer reviewed?

  • Yes

Legacy Posted Date

2012-02-06

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