Opstad, Leiv; Idsø, Johannes; Valenta, Robin - In: Economies : open access journal 10 (2022) 2, pp. 1-12
have analysed this sector. However, rather few articles have focused on the dynamics of growth and profit. The purpose of … this paper is to apply the theory of profit persistence and the law of proportionate effect (LPE) to Norwegian restaurants … finding is that Gibrat's law (LPE) does not seem to hold, meaning the growth is not independent of the size of the firms …