{"id":110758,"date":"2024-01-22T16:58:52","date_gmt":"2024-01-22T15:58:52","guid":{"rendered":"https:\/\/www.wifo.ac.at\/publication\/110758\/"},"modified":"2024-11-07T03:51:16","modified_gmt":"2024-11-07T02:51:16","slug":"the-anatomy-of-the-firm-size-distribution-the-evolution-of-its-variance-and-skewness","status":"publish","type":"publication","link":"https:\/\/www.wifo.ac.at\/en\/publication\/110758\/","title":{"rendered":"The Anatomy of the Firm Size Distribution: The Evolution of its Variance and Skewness"},"content":{"rendered":"","protected":false},"featured_media":0,"template":"","class_list":["post-110758","publication","type-publication","status-publish","hentry"],"acf":{"subtitle":"","text":"The evolution of higher moments of the firm size distribution so far seems to be neglected in the empirical firm growth literature. Based on GMM estimates, this paper introduces simple Wald tests to investigate whether the firm size distribution converges in both the second and third central moment. Using a comprehensive sample of Austrian firms, the estimation results indicate a substantial reduction in both the second and third central moment for the younger age cohorts. This effect is much less pronounced for older firms. Across age cohorts one observes an increase in variance, while the third central moment tends to vanish.","onlinedate":"2007-06-20 02:00:00","lang":"English","publication_series":"","publication_date":"20070501","publication_date_year":"","publication_date_full":false,"publication_num_pages":"29","keywords":"[\"GMM estimation\",\"Growth of firms\",\"Wald test\",\"market concentration\",\"moments of the firm size distribution\"]","jelcodes":"[]","related_publications":"[]","pdf":327514,"zip":null,"link":"","monthly_report":true,"monthly_report_main":false,"monthly_report_volume":"","monthly_report_pages":"","monthly_report_pages_sort":"0","issue":"295","journal":"WIFO Working Papers","publisher":"","invisible":false,"external":false,"embargo_date":null,"types":[44410],"research_groups":[3481,3491],"collaboration":"","persons":[3621,3785],"persons_data":"[{\"personId\":3621,\"personName\":\"Peter Huber\",\"organisationNames\":[]},{\"personId\":3785,\"personName\":\"Michael Pfaffermayr\",\"organisationNames\":[]}]","clients":[],"subclients":[],"partners":[],"topics":[],"host_publication_title":"","host_publication_subtitle":"","place_of_publication":"","host_publication_editors":"[]","type_description":"","output_media":"","chapter":"","article_number":"","citations":"{\"apa\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_apa rendering_contributiontoperiodical rendering_apa rendering_contributiontoperiodical_apa\\\"><span>Huber, P.<\\\/span><span>, &amp; Pfaffermayr, M.<\\\/span> (2007). <span>The Anatomy of the Firm Size Distribution: The Evolution of its Variance and Skewness<\\\/span>. <span><em>WIFO Working Papers<\\\/em><\\\/span>, (295). <a onclick=\\\"window.open(this.href, '_blank','noopener,noreferrer'); return false;\\\" href=\\\"https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/29340\\\" class=\\\"link\\\"><span>https:\\\/\\\/www.wifo.ac.at\\\/wwa\\\/pubid\\\/29340<\\\/span><\\\/a><\\\/div>\",\"vancouver\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_vancouver rendering_contributiontoperiodical rendering_vancouver rendering_contributiontoperiodical_vancouver\\\"><span>Huber P<\\\/span><span>, Pfaffermayr M<\\\/span>. <span class=\\\"title\\\"><span>The Anatomy of the Firm Size Distribution: The Evolution of its Variance and Skewness<\\\/span><\\\/span>. <span>WIFO Working Papers<\\\/span>. 2007 May;(295).<\\\/div>\",\"bibtex\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_bibtex rendering_contributiontoperiodical rendering_bibtex rendering_contributiontoperiodical_bibtex\\\"><div>@misc{1cae7ae3eb314ebcba31eae41b3b349e,<\\\/div><div>  title    = \\\"The Anatomy of the Firm Size Distribution: The Evolution of its Variance and Skewness\\\",<\\\/div><div>  abstract = \\\"The evolution of higher moments of the firm size distribution so far seems to be neglected in the empirical firm growth literature. Based on GMM estimates, this paper introduces simple Wald tests to investigate whether the firm size distribution converges in both the second and third central moment. Using a comprehensive sample of Austrian firms, the estimation results indicate a substantial reduction in both the second and third central moment for the younger age cohorts. This effect is much less pronounced for older firms. Across age cohorts one observes an increase in variance, while the third central moment tends to vanish.\\\",<\\\/div><div>  keywords = \\\"GMM estimation, Growth of firms, Wald test, market concentration, moments of the firm size distribution, GMM estimation, Growth of firms, Wald test, market concentration, moments of the firm size distribution\\\",<\\\/div><div>  author   = \\\"Peter Huber and Michael Pfaffermayr\\\",<\\\/div><div>  year     = \\\"2007\\\",<\\\/div><div>  month    = may,<\\\/div><div>  language = \\\"English\\\",<\\\/div><div>  journal  = \\\"WIFO Working Papers\\\",<\\\/div><p>}<\\\/p><\\\/div>\",\"ris\":\"<div class=\\\"rendering rendering_researchoutput  rendering_researchoutput_ris rendering_contributiontoperiodical rendering_ris rendering_contributiontoperiodical_ris\\\"><p>TY  - GEN<\\\/p><p>T1  - The Anatomy of the Firm Size Distribution: The Evolution of its Variance and Skewness<\\\/p><p>AU  - Huber, Peter<\\\/p><p>AU  - Pfaffermayr, Michael<\\\/p><p>PY  - 2007\\\/5<\\\/p><p>Y1  - 2007\\\/5<\\\/p><p>N2  - The evolution of higher moments of the firm size distribution so far seems to be neglected in the empirical firm growth literature. Based on GMM estimates, this paper introduces simple Wald tests to investigate whether the firm size distribution converges in both the second and third central moment. Using a comprehensive sample of Austrian firms, the estimation results indicate a substantial reduction in both the second and third central moment for the younger age cohorts. This effect is much less pronounced for older firms. Across age cohorts one observes an increase in variance, while the third central moment tends to vanish.<\\\/p><p>AB  - The evolution of higher moments of the firm size distribution so far seems to be neglected in the empirical firm growth literature. Based on GMM estimates, this paper introduces simple Wald tests to investigate whether the firm size distribution converges in both the second and third central moment. Using a comprehensive sample of Austrian firms, the estimation results indicate a substantial reduction in both the second and third central moment for the younger age cohorts. This effect is much less pronounced for older firms. Across age cohorts one observes an increase in variance, while the third central moment tends to vanish.<\\\/p><p>KW  - GMM estimation<\\\/p><p>KW  - Growth of firms<\\\/p><p>KW  - Wald test<\\\/p><p>KW  - market concentration<\\\/p><p>KW  - moments of the firm size distribution<\\\/p><p>KW  - GMM estimation<\\\/p><p>KW  - Growth of firms<\\\/p><p>KW  - Wald test<\\\/p><p>KW  - market concentration<\\\/p><p>KW  - moments of the firm size distribution<\\\/p><p>M3  - WIFO series<\\\/p><p>JO  - WIFO Working Papers<\\\/p><p>JF  - WIFO Working Papers<\\\/p><p>ER  - <\\\/p><\\\/div>\"}","scientific_assistance":"[]","scientific_review":"[]","version":"","release_date":null,"expiration_date":null,"surveyor":"","research_assistance":"","edv":"","additional_info_de":"","additional_info_en":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The Anatomy of the Firm Size Distribution: The Evolution of its Variance and Skewness - 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