Otro
Gradually truncated log-normal in USA publicly traded firm size distribution
Registro en:
Physica A-statistical Mechanics and Its Applications. Amsterdam: Elsevier B.V., v. 375, n. 2, p. 643-650, 2007.
0378-4371
10.1016/j.physa.2006.09.025
WOS:000243623700025
Autor
Gupta, Hari M.
Campanha, Jose R.
de Agular, Daniela R.
Queiroz, Gabriel A.
Raheja, Charu G.
Resumen
We study the statistical distribution of firm size for USA and Brazilian publicly traded firms through the Zipf plot technique. Sale size is used to measure firm size. The Brazilian firm size distribution is given by a log-normal distribution without any adjustable parameter. However, we also need to consider different parameters of log-normal distribution for the largest firms in the distribution, which are mostly foreign firms. The log-normal distribution has to be gradually truncated after a certain critical value for USA firms. Therefore, the original hypothesis of proportional effect proposed by Gibrat is valid with some modification for very large firms. We also consider the possible mechanisms behind this distribution. (c) 2006 Published by Elsevier B.V.