The size distribution and growth rates dynamics of U.S. manufacturing firms have been extensively studied by many authors. In this paper, using the COMPUSTAT database, we extend the analysis to disaggregated data, studying 15 industrial sectors. We find that among the stylized facts presented in...

The work studies the processes of growth of the world top 150 pharmaceutical firms, on the grounds of an original database which allows also disaggregate analysis at the level of single therapeutical classes and chemical entities.Our findings show that the industry -whose long-term evolution is...

Notwithstanding the recognized importance of traders expectations incharacterizing the observed market dynamics, for instance theformation of speculative bubbles and crashes on financial markets,little attention has been devoted so far by economists to a rigorousstudy of expectation formation in...

In this work we explore some basic properties of the size distributions of firms and of their growth processes both at aggregate and disaggregate levels. First, we investigate which properties of firms size distributions and growth dynamics are robust under disaggregation. Second, at a...

A very robust stylized fact has recently emerged concerning the distribution of growth rates of manufacturing business firms. We briefly review past analysis and present new evidence on this topic from the Italian Manufacturing Industry. We then propose a very simple model that, under rather...

In a repeated market for short-lived assets, we investigate long run wealth-driven selection on the general class of investment rules that depend on endogenously determined current and past prices. We study the random dynamical system that describes the price and wealth dynamics and characterize...

This paper studies the impact of size on labor cost and productivity for Italian man- ufacturing firms. The distributions of both labor cost and productivity display a wide support, even when disaggregated by sector of industrial activity. Further, both labor cost and productivity, when...

Analyzing a comprehensive database of limited liability manufacturing firms this paper investigates the relation between a firm's financial situation and its conditional expected growth rate. Specifically, using quantile regressions, we obtain a quantitative characterization of this relation for...

Exploiting a large database of Italian manufacturing firms we investigate the relationships between default rate and firm size. Default events, defined as conditions of actual or likely insolvency, are a signal of deep business troubles. They are unanticipated, costly and dangerous for the firm...

In this paper we study the dynamics of a simple asset pricing model describing the trading activity of heterogeneous agents in a "stylized" market. The economy in the model contains two assets: a bond with risk-less return and a dividend paying stock. The price of the stock is determined through...