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| Author: | Geroski, P. Gugler, K. |
| Title: | Corporate growth convergence in Europe |
| Journal: | Oxford Economic Papers
2004 : OCT, VOL. 56:4, p. 597-620 |
| Index terms: | Company growth Industrial structure Single market Europe |
| Language: | eng |
| Abstract: | It is widely believed that the implementation of the Single Market Programme in 1992 has induced a transformation in industrial structures across Europe. Some believe that it has driven Europe towards a common industrial structure. However, using a newly available database covering nearly every company above 100 employees in 14 European countries over the time period 1994 to 1998, the hypothesis of convergence in corporate sizes within industries is unambiguously rejected by the data. A Gibrat process best describes the growht of very large and mature companies, but smaller and younger companies depart from this prediction. |
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