Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/71914
Authors: 
Oberhofer, Harald
Pfaffermayr, Michael
Year of Publication: 
2008
Series/Report no.: 
Working Papers in Economics and Statistics 2008-10
Abstract: 
This paper formulates an econometric firm growth model that explicitly accounts for the interdependence of firm performance within corporate networks and is in line with several economic theories on firm growth. We estimate the model for national and multinational corporate groups (MNEs) using a recently introduced instrumental variable estimation procedure for peer group effects developed by Lee (2007). In our data for corporate groups the observation of fast growing young firms and slow growing old firms disappears if interdependence of firm performance within corporation networks is introduced.
Subjects: 
firm growth
size adjustment
corporate groups
multinational activity
peer-group effect estimation
JEL: 
C21
F23
L25
Document Type: 
Working Paper

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