Adams, Mike; Andersson, Lars Fredrik; Hardwick, Philip; … - In: Business History 56 (2014) 6, pp. 956-974
Using data for the period from 1855 to 1947 and the two sub-periods, 1855-1902 and 1903-47, the article examines whether the organic growth rates of 38 Swedish life insurance firms are independent of size, as predicted by Gibrat's (1931) Law of Proportionate Effects. Using panel unit root tests...