The Devil Dwells in the Tails: A Quantile Regression Approach to Firm Growth – Out now

msdahl — Sat, 10 Apr 2010 19:47:14 +0000

Toke Reichstein, Michael S. Dahl, Bernd Ebersberger and Morten B. Jensen

This paper explores the firm growth rate distribution in a Gibrat’s Law context. The aim is to provide an empirical exploration of the determinants of firm growth. The work is novel in two respects. First, rather than limiting the analysis to focus on the conditional mean growth level, we investigate the complete shape of the distribution. Second, we show that the differences in the firm growth rate process between large and small firms are highly circumstantial. That industry dynamics have a substantial influence on the relationship between firm size and firm growth. The data used includes more than 9000 Danish firms from manufacturing, services and construction. We provide robust evidence indicating that firm growth studies should be less obsessed with explaining means and instead look to other parts of the firm growth rate distribution.

Journal of Evolutionary Economics, Vol. 20, No. 2, pp. 219-231 (2010)

Download here [DOI Link]

Growth and Job Creation of Spin-offs

msdahl — Fri, 02 Apr 2010 00:15:02 +0000

Pernille G. Jensen and I have written a small paper on the performance of spin-offs in Denmark in terms of job creation and employment growth. It is an explorative, simple paper presentating findings on the potential of spin-offs as a particularly significant type of entrepreneurial entrant relative to other types of entrants. The paper has been submitted to an edited volume and is based on research from a project financed by the Rockwool Foundation.

Download the first draft on SSRN.

Michael S. Dahl » Growth

The Devil Dwells in the Tails: A Quantile Regression Approach to Firm Growth – Out now

Growth and Job Creation of Spin-offs