Bentzen, Jan; Madsen, Erik Strøjer; Smith, Valdemar - Nationalökonomisk Institut, Institut for Økonomi - 2006
The extensive empirical literature on the validity of Gibrat’s law does not in general verify the law as it finds that firms’ growth rates are negatively correlated with both firm size and age. However, some studies find that Gibrat’s law holds for sub-samples of firms such as large firms...