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Demand learning and firm dynamics: evidence from exporters

Berman, Nicolas; Rebeyrol, Vincent; Vicard, Vincent - C.E.P.R. Discussion Papers - 2015

This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets they serve, and update their beliefs as noisy...

Persistent link: https://www.econbiz.de/10011213311

Innovating Firms and Aggregate Innovation

Klette, Tor Jakob; Kortum, Samuel S - C.E.P.R. Discussion Papers - 2002

We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behaviour of individual heterogeneous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...

Persistent link: https://www.econbiz.de/10005788918

The Impact of Location on Firm Growth

Audretsch, David B; Dohse, Dirk - C.E.P.R. Discussion Papers - 2004

This Paper links the performance of new technology firms, measured in terms of growth, to geographic location. We introduce a model of firm growth that is specific to characteristics of the location as well as the firm and industry. The model is estimated using a new dataset identifying the...

Persistent link: https://www.econbiz.de/10005124462

On the Evolution of the Firm Size Distribution: Facts and Theory

Cabral, Luís M B; Mata, José - C.E.P.R. Discussion Papers - 2001

Using a comprehensive data set of Portuguese manufacturing firms, we show that the firm size distribution is significantly right-skewed, evolving over time toward a log-normal distribution. We also show that selection accounts for very little of this evolution. Instead, we propose a simple...

Persistent link: https://www.econbiz.de/10005504696

Agency, Firm Growth and Managerial Turnover

Anderson, Ronald W.; Bustamante, Maria Cecilia; … - C.E.P.R. Discussion Papers - 2012

We study managerial incentive provision under moral hazard in a firm subject to stochastic growth opportunities. In our model, managers are dismissed after poor performance, but also when an alternative manager is more capable of growing the firm. The optimal contract may involve managerial...

Persistent link: https://www.econbiz.de/10011083381

Demand or productivity: What determines firm growth?

Pozzi, Andrea; Schivardi, Fabiano - C.E.P.R. Discussion Papers - 2012

We disentangle the contribution of unobserved heterogeneity in idiosyncratic demand and productivity to firm growth. We use a model of monopolistic competition with Cobb-Douglas production and a dataset of Italian manufacturing firms containing unique information on firm-level prices to reach...

Persistent link: https://www.econbiz.de/10011083518

Exporter Dynamics, Firm Size and Growth, and Partial Year Effects

Bernard, Andrew B.; Massari, Renzo; Reyes, Jose-Daniel; … - C.E.P.R. Discussion Papers - 2014

Two otherwise identical firms that enter the same market in different months, one in January and one in December, will report dramatically different annual sales for the first calendar year of operations. This partial year effect in annual data leads to downward biased observations of the level...

Persistent link: https://www.econbiz.de/10011084375

The Anatomy of French Production Hierarchies

Caliendo, Lorenzo; Monte, Ferdinando; Rossi-Hansberg, … - C.E.P.R. Discussion Papers - 2012

We use a comprehensive dataset of French manufacturing firms to study their internal organization. We first divide the employees of each firm into `layers' using occupational categories. Layers are hierarchical in that the typical worker in a higher layer earns more, and the typical firm...

Persistent link: https://www.econbiz.de/10011084412

Political Connections and Firm Value: Evidence from the Regression Discontinuity Design of Close Gubernatorial Elections

Do, Quoc-Anh; Lee, Yen-Teik; Nguyen, Bang Dang - C.E.P.R. Discussion Papers - 2015

Using the regression discontinuity design of close gubernatorial elections in the U.S., we identify a significant and positive impact of the social networks of corporate directors and politicians on firm value. Firms connected to elected governors increase their value by 3.89%. Political...

Persistent link: https://www.econbiz.de/10011249372

Corruption And Competition In Public Market Auctions

Compte, Olivier; Lambert-Mogiliansky, Ariane; Verdier, … - C.E.P.R. Discussion Papers - 2000

This paper investigates the effect of corruption on competition in government procurement auctions. Our assumption is … corruption is to facilitate collusion in price between firms. This can result in high public spending and inefficient allocation … which unilateral anti-corruption controls may restore price competition. …

Persistent link: https://www.econbiz.de/10005662229

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