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The Growth of Business Firms: Theoretical Framework and Empirical Evidence

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 نشر من قبل Dongfeng Fu
 تاريخ النشر 2005
  مجال البحث فيزياء مالية
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We introduce a model of proportional growth to explain the distribution of business firm growth rates. The model predicts that the distribution is exponential in the central part and depicts an asymptotic power-law behavior in the tails with an exponent 3. Because of data limitations, previous studies in this field have been focusing exclusively on the Laplace shape of the body of the distribution. In this article, we test the model at different levels of aggregation in the economy, from products to firms to countries, and we find that the models predictions agree with empirical growth distributions and size-variance relationships.



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