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Ratio Working Paper No. 264: Bursting into life: Firm growth and growth persistence by age

PublikationWorking paper
Alex Coad, Daniel Halvarsson, Företagandets villkor, Gaseller, Nationalekonomi, Snabbväxande företag, Sven-Olov Daunfeldt
Ratio Working Paper No. 264
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Sammanfattning

Is firm growth more persistent for young or old firms? Theory gives us no clear answer, and previous empirical investigations have been hampered by a lack of detailed data on firm age, as well as a non-representative coverage of young firms. We overcome these shortcomings using a rich dataset on all limited liability firms
in Sweden during 1997-2010, covering firms of all ages and information on registered start year. We find that sales growth for new ventures is characterized by positive persistence, whereas it quickly turns negative and remains negative as firms get older. It thus seems that the growth paths of older firms are buffeted around by environmental turbulence, and that older firms may have challenges in adapting their strategies to changing market conditions, whereas new firms experience an early burst of sustained growth.


Liknande innehåll

Ratio Working Paper No. 354: Foreign Ownership and Transferring of Gender Norms
Working paperPublikation
Halvarsson, D., Lark, O. & Gustavsson Tingvall, P.
Publiceringsår

2022

Publicerat i

Ratio Working Paper

Sammanfattning

In this paper, we study foreign ownership as a vehicle for transferring gender norms across international borders. Specifically, we analyze how the wage differential between men and women in Swedish firms is affected by the degree of gender inequality in the home country of foreign investors. The results suggest that gender norms of the home country matter—the gender wage gap in foreign-owned subsidiaries appears to increase with the degree of gender inequality prevailing in the investors’ home market. This finding is identified from within job-spell variation in wages and proves robust across a series of specifications.

Maximum Likelihood Estimation of Asymmetric Double Type II Pareto Distributions
Artikel (med peer review)Publikation
Halvarsson, D.
Publiceringsår

2020

Sammanfattning

This paper considers a flexible class of asymmetric double Pareto distributions (ADP) that allows for skewness and asymmetric heavy tails. The inference problem is examined for maximum likelihood. Consistency is proven for the general case when all parameters are unknown. After deriving the Fisher information matrix, asymptotic normality and efficiency are established for a restricted model with the location parameter known. The asymptotic properties of the estimators are then examined using Monte Carlo simulations. To assess its goodness of fit, the ADP is applied to companies’ growth rates, for which it is favored over competing models.

Working Paper no. 328 Wholesale firms: A catalyst for Swedish exports?
Working paperPublikation
Daunfeldt, S-O., Engberg, E., Halvarsson, D., Kokko, A. & Tingvall, P.
Publiceringsår

2019

Publicerat i

Ratio Working Paper

Sammanfattning

This paper examines the role of wholesale firms as facilitators of exports for small and medium-sized Swedish businesses. Our findings suggest that wholesale firms do facilitate access to difficult markets located outside Europe. For exports of a particular good to a given market, we observe a positive correlation between the export volumes of wholesale and manufacturing firms. Finally, we present evidence that supports a prediction from recent trade models with differentiated firms, namely that wholesale firms can facilitate exports for firms that are not themselves capable of direct exports.

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