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The Determinants of Firm Growth in the U.S. Industrial Sector : = A Firm Level Analysis.

紀錄類型:	書目-語言資料,手稿 : Monograph/item
正題名/作者:	The Determinants of Firm Growth in the U.S. Industrial Sector :/
其他題名:	A Firm Level Analysis.
作者:	Breece, Dena Dail.
面頁冊數:	1 online resource (235 pages)
附註:	Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.
Contained By:	Dissertation Abstracts International79-03A(E).
標題:	Business administration. -
電子資源:	click for full text (PQDT)
ISBN:	9780355464825

The Determinants of Firm Growth in the U.S. Industrial Sector : = A Firm Level Analysis.
Breece, Dena Dail.

The Determinants of Firm Growth in the U.S. Industrial Sector :A Firm Level Analysis. - 1 online resource (235 pages)

Source: Dissertation Abstracts International, Volume: 79-03(E), Section: A.

Thesis (Ph.D.)

Includes bibliographical references

Why do some firms survive and grow and others do not? Is Gibrat's Law still valid? This is an ongoing debate in industrial organization and management since Gibrat published in 1931. Gibrat (1931) suggested firm growth is independent of firm size and is by chance. However, recent studies call for chance to be supplemented by deterministic models. We considered determinants of firm growth. Specifically, we examined whether firm growth is explained by firm size, firm profitability, firm leverage, firm agency costs, and firm R&D intensity. Also, persistence of firm growth was considered. Evidence was based on a balanced panel data set obtained from Compustat annually for 1991-2015. Data consisted of 82 surviving U.S. public companies in the industrial economic sector. Empirical analysis involved panel econometric techniques like pooled ordinary least squares, random effects models, fixed effects models, and system Generalized Method of Moments methodology. We find that firm growth is not independent of firm size; therefore, Gibrat's Law does not hold. We find that a significant, positive relationship exists between firm research and development intensity and firm growth. We find that a significant, negative relationship exists between profitability measured by ROA, firm leverage, firm agency costs and firm growth. Finally, we conclude that firm growth persists.

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2018

Mode of access: World Wide Web

ISBN: 9780355464825Subjects--Topical Terms:

1148568
Business administration.
Index Terms--Genre/Form:

554714
Electronic books.

The Determinants of Firm Growth in the U.S. Industrial Sector : = A Firm Level Analysis.
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504 $a Includes bibliographical references
520 $a Why do some firms survive and grow and others do not? Is Gibrat's Law still valid? This is an ongoing debate in industrial organization and management since Gibrat published in 1931. Gibrat (1931) suggested firm growth is independent of firm size and is by chance. However, recent studies call for chance to be supplemented by deterministic models. We considered determinants of firm growth. Specifically, we examined whether firm growth is explained by firm size, firm profitability, firm leverage, firm agency costs, and firm R&D intensity. Also, persistence of firm growth was considered. Evidence was based on a balanced panel data set obtained from Compustat annually for 1991-2015. Data consisted of 82 surviving U.S. public companies in the industrial economic sector. Empirical analysis involved panel econometric techniques like pooled ordinary least squares, random effects models, fixed effects models, and system Generalized Method of Moments methodology. We find that firm growth is not independent of firm size; therefore, Gibrat's Law does not hold. We find that a significant, positive relationship exists between firm research and development intensity and firm growth. We find that a significant, negative relationship exists between profitability measured by ROA, firm leverage, firm agency costs and firm growth. Finally, we conclude that firm growth persists.
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538 $a Mode of access: World Wide Web
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