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| Author: | Dhawan, R. |
| Title: | Firm size and productivity differential: theory and evidence from the panel of US firms |
| Journal: | Journal of Economic Behavior and Organization
2001 : MAR, VOL. 44:3, p. 269-293 |
| Index terms: | COMPANIES BY SIZE FLEXIBILITY PRODUCTIVITY USA |
| Language: | eng |
| Abstract: | The US industrial sector plays heterogenity among firms on the basis if their size: smaller firms exhibit a higher profit rate, lower survival probability and difficulty in accessing the capital market. A simple theoretical model that generates these features based on private information regarding managerial actions at firm-level production is developed and tested. Using a large panel of publicly traded US firms, parameters of the production technology for large and small firms are estimated for the 1970-1989 period. The empirical results indicate that small firms are significantly more productive but also more risky than their large counterparts. |
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