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Fluctuation of Firm Size in the Long-Run and Bimodal Distribution

DOI zum Zitieren der Version auf EPub Bayreuth: https://doi.org/10.15495/EPub_UBT_00005622
URN to cite this document: urn:nbn:de:bvb:703-epub-5622-2

Title data

Aoyama, Hideaki ; Grüne, Lars ; Semmler, Willi ; Fujiwara, Yoshi ; Souma, Wataru:
Fluctuation of Firm Size in the Long-Run and Bimodal Distribution.
Bayreuth , 2011

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Abstract

We study empirically and analytically growth and fluctuation of firm size distribution. An empirical analysis is carried out on a US data set on firm size, with emphasis on one-time distribution as well as growth-rate probability distribution. Both Pareto's law and Gibrat's law are often used to study firm size distribution. Their theoretical relationship is discussed, and it is shown how they are complementable with a bimodal distribution of firm size. We introduce economic mechanisms that suggest a bimodal distribution of firm size in the long run. The mechanisms we study have been known in the economic literature since long. Yet, they have not been studied in the context of a dynamic decision problem of the firm. Allowing for these mechanism thus will give rise to heterogeneity of firms with respect to certain characteristics. We then present different types of tests on US data on firm size which indicate a bimodal distribution of firm size.

Further data

Item Type: Preprint, postprint
Additional notes (visible to public): erscheint in:
Advances in Operations Research. Bd. 2011 (2011) . - Article ID 269239
DDC Subjects: 500 Science
500 Science > 510 Mathematics
Institutions of the University: Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics) > Chair Mathematics V (Applied Mathematics) - Univ.-Prof. Dr. Lars Grüne
Faculties
Faculties > Faculty of Mathematics, Physics und Computer Science
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics
Faculties > Faculty of Mathematics, Physics und Computer Science > Department of Mathematics > Chair Mathematics V (Applied Mathematics)
Language: English
Originates at UBT: Yes
URN: urn:nbn:de:bvb:703-epub-5622-2
Date Deposited: 26 May 2021 12:36
Last Modified: 08 Jun 2021 07:26
URI: https://epub.uni-bayreuth.de/id/eprint/5622

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