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Assessing the impact of credit ratings and economic performance on firm default

Bottazzi, Giulio; Grazzi, Marco; Secchi, Angelo; … - 2007

The study of firms' default has attracted wide interest among both practitioners and scholars. However, attention has often been limited to a relatively small set of financial variables. In this work, we try to increase the scope of analysis extending the investigation to other possible...

Persistent link: https://www.econbiz.de/10010328637

Spatial differentiation in industrial dynamics: A core-periphery analysis based on the Pavitt-Miozzo-Soete Taxonomy

Capasso, Marco; Cefis, Elena; Frenken, Koen - 2011

We compare the industrial dynamics in the core, semi-periphery and periphery in The Netherlands in terms of firm entry-exit … aggregate level the spatial pattern of industrial dynamics is consistent with the spatial product lifecycle thesis: entry and … exit rates are highest in the core and lowest in the periphery, while the share of persistently growing firms is higher in …

Persistent link: https://www.econbiz.de/10010328354

Fickle product mix: Exporters adapting their product vectors across markets

Fontagné, Lionel; Secchi, Angelo; Tomasi, Chiara - 2014

This paper analyzes how multi-product firms adjust their exported product-mix across destinations. Using cross sections of Italian and French data, we show that firms do not follow a rigid ordering in their product mix exported in different markets but rather they adapt their choices to better...

Persistent link: https://www.econbiz.de/10011335930

The footprint of evolutionary processes of learning and selection upon the statistical properties of industrial dynamics

Dosi, Giovanni; Pereira, Marcelo C.; Virgillito, Maria … - 2015

the dynamics of entry-exit and market shares and, collectively, the productivity and the size distributions and their … market selection as the two main drivers of the dynamics of industries. Are such processes able to robustly account for the … simple agent-based model formalizing the mechanisms of learning and selection. The interplay between these two engines shapes …

Persistent link: https://www.econbiz.de/10011335937

Financial fragility and the distribution of firm growth rates

Bottazzi, Giulio; Secchi, Angelo - 2013

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...

Persistent link: https://www.econbiz.de/10010328366

Zipf law and the firm size distribution: A critical discussion of popular estimators

Bottazzi, Giulio; Pirino, Davide; Tamagni, Federico - 2013

The upper tail of the firm size distribution is often assumed to follows a Power Law behavior. Recently, using different estimators and on different data sets, several papers conclude that this distribution follows the Zipf Law, that is that the fraction of firms whose size is above a given...

Persistent link: https://www.econbiz.de/10010328372

A matter of life and death: Innovation and firm survival

Cefis, Elena; Marsili, Orietta - 2004

This paper examines the effects of innovation on the survival of manufacturing firms in the Netherlands. The demographics of firms according to their innovative performance and type of innovation are traced by using the Business Register population of all firms active in the Netherlands and the...

Persistent link: https://www.econbiz.de/10010328425

Do some firms persistently outperform?

Capasso, Marco; Cefis, Elena; Frenken, Koen - 2009

This study analyses persistence in growth rates of the entire population of Dutch manufacturing firms. Previous literature on firm growth rates shows that extreme growth events are likely to be negatively correlated over time. A rebound effect following an extreme growth event questions the...

Persistent link: https://www.econbiz.de/10010328428

Do liquidity constraints matter in explaining firm size and growth? Some evidence from the Italian manufacturing industry

Fagiolo, Giorgio; Luzzi, Alessandra - 2004

The paper investigates whether liquidity constraints affect firm size and growth dynamics using a large longitudinal sample of Italian manufacturing firms. We run standard panel-data Gibrat regressions, suitably expanded to take into account liquidity constraints (proxied by cash flow scaled by...

Persistent link: https://www.econbiz.de/10010328431

Financial fragility and growth dynamics of Italian business firms

Bottazzi, Giulio; Secchi, Angelo; Tamagni, Federico - 2006

This work explores a number of properties investigated in the empirical literature on firm size and growth dynamics: (i) the distribution and the autoregressive structure of firm size; (ii) the existence of size-growth scaling relationships; (iii) the distribution and the autoregressive structure...

Persistent link: https://www.econbiz.de/10010328482