重新审视企业规模分布
Re-examination of the size distribution of firms
摘要:
在本文中,我们解决的问题,企业的规模分布。为此,我们使用彭博社1995-2003年跨国公司数据库,分析了日本和美国公司单独财务报表的销售额和总资产数据,并对日本和美国公司的规模分布进行了比较。我们发现,(1)美国企业的规模分布近似于对数正态分布,这与Gibrat的观察(Gibrat 1931)一致;相反,(2)日本企业的规模分布显然不是对数正态分布,规模分布的上尾遵循帕累托定律。这与Simon模型(Simon 1955)的预测一致。关键词:企业规模分布、吉布拉特定律、帕累托定律
英文摘要:
In this paper we address the question of the size distribution of firms. To this aim, we use the Bloomberg database comprising multinational firms within the years 1995-2003, and analyze the data of the sales and the total assets of the separate financial statement of the Japanese and the US companies, and make a comparison of the size distributions between the Japanese companies and the US companies. We find that (i) the size distribution of the US firms is approximately log-normal, in agreement with Gibrat's observation (Gibrat 1931), and in contrast (ii) the size distribution of the Japanese firms is clearly not log-normal, and the upper tail of the size distribution follows the Pareto law. It agree with the predictions of the Simon model (Simon 1955). Key words: the size distribution of firms, the Gibrat's law, and the Pareto law
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