Diverse theories of industry dynamics predict heterogeneity in production efficiency to be the driver of firms' growth, survival, and industrial change, either through a direct link between efficiency and growth, or through an indirect effect via profitabilities, as more productive firms can...

We introduce a new five-parameter family of distributions, the asymmetric exponential power (AEP), able to cope with asymmetries and leptokurtosis and, at the same time, allowing for a continuous variation from non-normality to normality. We prove that the maximum likelihood (ML) estimates of...

This paper explores the interplay between entry, selection and innovative learning as determinants of industrial evolution. It proposes a model aimed at capturing some essential features of learning and competition as drivers of the dynamics. Using both analytical and numerical techniques, the...

This work presents a comparative analysis of two crucial dimensions of firms’ performance: profitability and productivity. The characteristics of their empirical distribution and the associated degree of persistence over time are explored through a set of parametric and non-parametric...

This article presents an analysis of the growth patterns of the worldwide top 200 firms in the pharmaceutical industry. A test of the Gibrat's Law of Proportionate Effect is performed and we find, in line with previous literature, a violation concerning the variance of growth. Using...

This work analyses the properties of corporate growth in a large longitudinal sample of Italian manufacturing firms. In particular, it focuses on the statistical properties of growth rates and on the influence of proxies for relative efficiency upon relative growth. In line with previous work,...