Firm size and economic concentration: An analysis from a lognormal expansion.

This paper studies the distribution of the firm size for the Colombian economy showing evidence against the Gibrat's law, which assumes a stable lognormal distribution. On the contrary, we propose a lognormal expansion that captures deviations from the lognormal distribution with additional ter...

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Autores principales:	Lina M Cortés, Juan M Lozada, Javier Perote
Formato:	article
Lenguaje:	EN
Publicado:	Public Library of Science (PLoS) 2021
Materias:	Medicine R Science Q
Acceso en línea:	https://doaj.org/article/8e6aa410f518431194dd4197df897f6c
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spelling	oai:doaj.org-article:8e6aa410f518431194dd4197df897f6c2021-12-02T20:15:32ZFirm size and economic concentration: An analysis from a lognormal expansion.1932-620310.1371/journal.pone.0254487https://doaj.org/article/8e6aa410f518431194dd4197df897f6c2021-01-01T00:00:00Zhttps://doi.org/10.1371/journal.pone.0254487https://doaj.org/toc/1932-6203This paper studies the distribution of the firm size for the Colombian economy showing evidence against the Gibrat's law, which assumes a stable lognormal distribution. On the contrary, we propose a lognormal expansion that captures deviations from the lognormal distribution with additional terms that allow a better fit at the upper distribution tail, which is overestimated according to the lognormal distribution. As a consequence, concentration indexes should be addressed consistently with the lognormal expansion. Through a dynamic panel data approach, we also show that firm growth is persistent and highly dependent on firm characteristics, including size, age, and leverage -these results neglect Gibrat's law for the Colombian case.Lina M CortésJuan M LozadaJavier PerotePublic Library of Science (PLoS)articleMedicineRScienceQENPLoS ONE, Vol 16, Iss 7, p e0254487 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Medicine R Science Q
spellingShingle	Medicine R Science Q Lina M Cortés Juan M Lozada Javier Perote Firm size and economic concentration: An analysis from a lognormal expansion.
description	This paper studies the distribution of the firm size for the Colombian economy showing evidence against the Gibrat's law, which assumes a stable lognormal distribution. On the contrary, we propose a lognormal expansion that captures deviations from the lognormal distribution with additional terms that allow a better fit at the upper distribution tail, which is overestimated according to the lognormal distribution. As a consequence, concentration indexes should be addressed consistently with the lognormal expansion. Through a dynamic panel data approach, we also show that firm growth is persistent and highly dependent on firm characteristics, including size, age, and leverage -these results neglect Gibrat's law for the Colombian case.
format	article
author	Lina M Cortés Juan M Lozada Javier Perote
author_facet	Lina M Cortés Juan M Lozada Javier Perote
author_sort	Lina M Cortés
title	Firm size and economic concentration: An analysis from a lognormal expansion.
title_short	Firm size and economic concentration: An analysis from a lognormal expansion.
title_full	Firm size and economic concentration: An analysis from a lognormal expansion.
title_fullStr	Firm size and economic concentration: An analysis from a lognormal expansion.
title_full_unstemmed	Firm size and economic concentration: An analysis from a lognormal expansion.
title_sort	firm size and economic concentration: an analysis from a lognormal expansion.
publisher	Public Library of Science (PLoS)
publishDate	2021
url	https://doaj.org/article/8e6aa410f518431194dd4197df897f6c
work_keys_str_mv	AT linamcortes firmsizeandeconomicconcentrationananalysisfromalognormalexpansion AT juanmlozada firmsizeandeconomicconcentrationananalysisfromalognormalexpansion AT javierperote firmsizeandeconomicconcentrationananalysisfromalognormalexpansion
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Firm size and economic concentration: An analysis from a lognormal expansion.

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