Size, Age and the Growth of Firms: New Evidence from Quantile Regressions

Distante, Roberta; Petrella, Iván; Santoro, Emiliano

doi:10.2139/ssrn.2469095

Cited by 2 publications

(2 citation statements)

References 22 publications

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“…Again, we are informed by the industrial organisation literature (e.g. Barba Navaretti et al 2014;Distante et al 2014): we consider age-dependent mechanisms that characterise the firm's capacity to exploit innovation (Coad et al 2016) and add to them specific ones related to eco-innovations. By studying the knowledge complexity implications of eco-innovations (e.g.…”

Section: Introductionmentioning

confidence: 99%

‘Better late than never’: the interplay between green technology and age for firm growth

et al. 2017

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This paper investigates the relationship between green/non-green technologies and firm growth. By combining the literature on eco-innovations, industrial organisation and entrepreneurial studies, we examine the dependence of this relationship on the pace at which firms grow and the age of the firm. From a dataset of 5498 manufacturing firms in Italy for the period of 2000-2008, longitudinal fixed effects quantile models are estimated, in which the firm's age is set to moderate the effects of green and non-green patents on employment growth. We find that the positive effect of green technologies on growth is greater than that of non-green technologies. However, this result does not apply to struggling and rapidly growing firms. With fast-growing (above the median) firms, age moderates the growth effect of green technologies. Inconsistent with the extant literature, this moderation effect is positive: firm experience appears important for the growth benefits of green technologies, possibly relative to the complexity of their management.

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Section: Introductionmentioning

confidence: 99%

‘Better late than never’: the interplay between green technology and age for firm growth

et al. 2017

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“…This …nding may be seen as providing indirect support to Davis and Kahn (2008) and Davis, Faberman, Haltiwanger, Jarmin, and Miranda (2010), according to whom 1 1 See Sutton (1997) for a comprehensive review of the literature. 1 2 Distante, Petrella, and Santoro (2013) focus on the impact of size and age on …rm growth, reporting additional evidence at the sectoral level. In line with the estimates presented here, …rm size generally acts as a scale shifter of the distribution, while age emerges as a location and scale shifter.…”

Section: Size Age and Business Cycle Co-movementmentioning

confidence: 99%

Asymmetry Reversals and the Business Cycle

2013

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The cross-sectional dynamics of the U.S. business cycle is examined through the lens of quantile regression models. Conditioning the quantiles of …rm-level growth to di¤erent measures of technological change highlights a deep connection between counter-cyclical skewness and the transmission of aggregate disturbances. Asymmetry reversals emerge as the dominant source of cyclical variation in the probability density, generating a powerful ampli…cation of aggregate shocks to …rm technology. Designing and validating heterogeneous …rm business cycle models should necessarily account for this empirical …nding.JEL classi…cation: C21; E32.

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Size, Age and the Growth of Firms: New Evidence from Quantile Regressions

Cited by 2 publications

References 22 publications

‘Better late than never’: the interplay between green technology and age for firm growth

‘Better late than never’: the interplay between green technology and age for firm growth

Asymmetry Reversals and the Business Cycle

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