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Identifier to cite or link to this item: https://hdl.handle.net/10086/18568

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Title
Shape of Growth Rate Distribution Determines the Type of Non-Gibrat's Property
Creator
Creator Name
Ishikawa, Atushi Ishikawa, Atushi
石川, 温 石川, 温
イシカワ, アツシ イシカワ, アツシ
Affiliation
Affiliation Name
Kanazawa Gakuin University
Creator Name
Fujimoto, Shouji Fujimoto, Shouji
藤本, 祥二 藤本, 祥二
フジモト, ショウジ フジモト, ショウジ
Affiliation
Affiliation Name
Kanazawa Gakuin University
Creator Name
Mizuno, Takayuki Mizuno, Takayuki
水野, 貴之 水野, 貴之
ミズノ, タカユキ ミズノ, タカユキ
Affiliation
Affiliation Name
Hitotsubashi University
Editor
Contributor Name
持続的成長を可能にする産業・金融ネットワークの設計 = Design of industry and financial network where sustained growth is enabled
Abstract
In this study, the authors examine exhaustive business data on Japanese firms, which cover nearly all companies in the mid- and large-scale ranges in terms of firm size, to reach several key findings on profits/sales distribution and business growth trends. First, detailed balance is observed not only in profits data but also in sales data. Furthermore, the growth-rate distribution of sales has wider tails than the linear growth-rate distribution of profits in log-log scale. On the one hand, in the mid-scale range of profits, the probability of positive growth decreases and the probability of negative growth increases symmetrically as the initial value increases. This is called Non-Gibrat's First Property. On the other hand, in the mid-scale range of sales, the probability of positive growth decreases as the initial value increases, while the probability of negative growth hardly changes. This is called Non-Gibrat's Second Property. Under detailed balance, Non-Gibrat's First and Second Properties are analytically derived from the linear and quadratic growth-rate distributions in log-log scale, respectively. In both cases, the log-normal distribution is inferred from Non-Gibrat's Properties and detailed balance. These analytic results are verified by empirical data. Consequently, this clarifies the notion that the difference in shapes between growth-rate distributions of sales and profits is closely related to the difference between the two Non-Gibrat's Properties in the mid-scale range.
Publisher
Research Center for Interfirm Network Institute of Economic Research, Hitotsubashi University
Issued Date
2010-06-05
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
Working Paper Series ; No. 1_v2
ReplacesRelation -
Related Identifier
HDL
  http://hdl.handle.net/10086/18435
Relation
Related Title
This is a revised version of http://hdl.handle.net/10086/18435
Related Identifier
URI
  http://www2.ier.hit-u.ac.jp/ifn/
Number of Pages
24
Sponsorship
近未来の課題解決を目指した実証的社会科学研究推進事業
Appears in Collections
Working Paper Series / Design of industry and financial network where sustained growth is enabled
URL
https://hdl.handle.net/10086/18568