This article provides new insights into the dependence of firm growth on age along the entire distribution of growth rates, and conditional on survival. Using data from the European firms in a global economy survey, and adopting a quantile regression approach, we uncover evidence for a sample of French, Italian and Spanish manufacturing firms with more than ten employees in the period from 2001 to 2008. We find that: (1) young firms grow faster than old firms, especially in the highest growth quantiles; (2) young firms face the same probability of declining as their older counterparts; (3) results are robust to the inclusion of other firms’ characteristics such as labor productivity, capital intensity and the financial structure; (4) high growth is associated with younger chief executive officers and other attributes.
|Titolo:||Age and firm growth : evidence from three European countries|
BARBA NAVARETTI, GIORGIO (Primo)
|Parole Chiave:||Age; Firm growth; Quantile regression|
|Settore Scientifico Disciplinare:||Settore SECS-P/01 - Economia Politica|
|Data di pubblicazione:||dic-2014|
|Digital Object Identifier (DOI):||10.1007/s11187-014-9564-6|
|Appare nelle tipologie:||01 - Articolo su periodico|