Entrepreneurial Efficiency: An Empirical Framework and Evidence

Katsuya Takii

Macroeconomics from EconWPA

Abstract: This paper examines a particular aspect of entrepreneurship, namely firms' activities in adapting to idiosyncratic environmental changes by appropriately reallocating resources. It presents an empirical framework that examines the social value of firms' abilities to predict and adapt to the movement of idiosyncratic shocks. Using the method, the quantitative effect of firms' prediction ability on Total Factor Productivity (TFP) is investigated using data from Japan's Census of Manufacturing.

Keywords: entrepreneurship; prediction ability; total factor productivity; allocative efficiency; aggregate production function. (search for similar items in EconPapers)
JEL-codes: D21 D61 O40 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ent
Date: 2004-11-10
Note: Type of Document - pdf
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Persistent link: http://EconPapers.repec.org/RePEc:wpa:wuwpma:0411006

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