On the Evolution of Firm Size Distributions

American Economic Review - Tập 98 Số 1 - Trang 426-438 - 2008
Paolo Angelini1, Andrea Generale1
1Bank of Italy Economic Research Department, via Nazionale 91, 00184 Rome, Italy

Tóm tắt

We study the impact of financial constraints on firm size distribution (FSD). We find that financially constrained firms, identified using various proxies, are smaller than the others (their FSD is more skewed to the right). Among OECD countries, however, the FSD of nonconstrained firms virtually overlaps that of the entire sample, suggesting that the overall impact of financial constraints on the FSD is modest. The difference is more pronounced in our sample of firms from non-OECD countries. We conclude that financial constraints cannot be considered the main determinant of the FSD evolution in developed economies. (JEL L11, L25)

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Tài liệu tham khảo

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American Economic Review

Tập 98 Số 1

426-438

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