| 来源类型 | Article
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| 规范类型 | 其他
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| DOI | 10.1057/eej.2010.67
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| ISBN | 0094-5056
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| Firms as bundles of discrete resources – towards an explanation of the exponential distribution of firm growth rates. |
| Coad, Alex; Planck, Max
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| 发表日期 | 2012-03
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| 出处 | Eastern Economic Journal
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| 出版者 | Palgrave Macmillan
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| 出版年 | 2012
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| 页码 | 189-209
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| 语种 | 英语
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| 摘要 | A robust feature of the corporate growth process is the Laplace, or symmetric exponential, distribution of firm growth rates. In this paper, we sketch out a class of simple theoretical models capable of explaining this empirical regularity. We do not attempt to generalize on where growth opportunities come from, but rather we focus on how firms build upon growth opportunities. We base ourselves on Penrose's (1959) description of firm growth to explain how the interdependent nature of discrete resources may lead to the triggering off of a series of additions to a firm's resources. In a first formal model, we consider the case of employment growth in a hierarchy, and observe that growth rates follow an exponential distribution. In a second model, we include plant and capital as resources and we are able to reproduce a number of stylized facts about firm growth. |
| 特色分类 | HD0056 Industrial productivity
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| 关键词 | firm growth rates
laplace distribution
exponential distribution
hierarchy
growth autocorrelation
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| URL | http://sro.sussex.ac.uk/id/eprint/39791/
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| 来源智库 | Science Policy Research Unit (United Kingdom)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/467981
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推荐引用方式
GB/T 7714 |
Coad, Alex,Planck, Max. Firms as bundles of discrete resources – towards an explanation of the exponential distribution of firm growth rates.. 2012.
|
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