Age and firm growth: evidence from three European countries
Giorgio Barba Navaretti (barba@unimi.it),
Davide Castellani and
Fabio Pieri
Small Business Economics, 2014, vol. 43, issue 4, 823-837
Abstract:
This article provides new insights into the dependence of firm growth on age along the entire distribution of growth rates, and conditional on survival. Using data from the European firms in a global economy survey, and adopting a quantile regression approach, we uncover evidence for a sample of French, Italian and Spanish manufacturing firms with more than ten employees in the period from 2001 to 2008. We find that: (1) young firms grow faster than old firms, especially in the highest growth quantiles; (2) young firms face the same probability of declining as their older counterparts; (3) results are robust to the inclusion of other firms’ characteristics such as labor productivity, capital intensity and the financial structure; (4) high growth is associated with younger chief executive officers and other attributes that capture the attitude of the firm toward growth and change. The effect of age on firm growth is rather similar across countries. Copyright Springer Science+Business Media New York 2014
Keywords: Firm growth; Age; Quantile regression; L21; L25; L26; L60 (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (114)
Downloads: (external link)
http://hdl.handle.net/10.1007/s11187-014-9564-6 (text/html)
Access to full text is restricted to subscribers.
Related works:
Working Paper: Age and firm growth. Evidence from three European countries (2013) 
Working Paper: Age and firm growth. Evidence from three European countries (2012) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:kap:sbusec:v:43:y:2014:i:4:p:823-837
Ordering information: This journal article can be ordered from
http://www.springer. ... 29/journal/11187/PS2
DOI: 10.1007/s11187-014-9564-6
Access Statistics for this article
Small Business Economics is currently edited by Zoltan J. Acs and David B. Audretsch
More articles in Small Business Economics from Springer
Bibliographic data for series maintained by Sonal Shukla (sonal.shukla@springer.com) and Springer Nature Abstracting and Indexing (indexing@springernature.com).