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Angelini, Paolo, and
Andrea Generale. 2008. "On the Evolution of Firm Size Distributions."
,
98(1): 426-38.
Show Article Details
DOI: 10.1257/aer.98.1.426
Abstract:We study the impact of financial constraints on firm size distribution (FSD). We find that financially constrained firms, identified using various proxies, are smaller than the others (their FSD is more skewed to the right). However, among OECD countries, the FSD of nonconstrained firms virtually overlaps that of the entire sample, suggesting that the overall impact of financial constraints on the FSD is modest. The difference is more pronounced in our sample of firms from non-OECD countries. We conclude that financial constraints cannot be considered the main determinant of the FSD evolution in developed economies. (JEL L11, L25)
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Authors:
Angelini, Paolo (Bank of Italy)
Generale, Andrea (Bank of Italy)
JEL Classifications:
L11: Production, Pricing, and Market Structure; Size Distribution of Firms
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