2024-03-29T11:19:53Z
https://tsukuba.repo.nii.ac.jp/oai
oai:tsukuba.repo.nii.ac.jp:00026218
2022-04-27T08:53:41Z
2871:2874:1952
3:62:5587:1825
A New Method for Measuring Tail Exponents of Firm Size Distributions
水野, 貴之
Fujimoto, Shouji
Ishikawa, Atushi
Mizuno, Takayuki
Watanabe, Tsutomu
The authors propose a new method for estimating the power-law exponents of firm size variables. Their focus is on how to empirically identify a range in which a firm size variable follows a power-law distribution. On the one hand, as is well known a firm size variable follows a power-law distribution only beyond some threshold. On the other hand, in almost all empirical exercises, the right end part of a distribution deviates from a power-law due to finite size effects. The authors modify the method proposed by Malevergne et al. (2011). In this way they can identify both the lower and the upper thresholds and then estimate the power-law exponent using observations only in the range defined by the two thresholds. They apply this new method to various firm size variables, including annual sales, the number of workers, and tangible fixed assets for firms in more than thirty countries.
This special issue follows the "First Unconventional Workshop on Quantitative Finance and Economics" held at the International Christian University in Tokyo the 21st–23th of February 2011, but is open also to contributions not presented in it.
journal article
KIEL INST WORLD ECONOMY (Published in Special Issue New Approaches in Quantitative Modeling of Financial Markets)
2011-12
application/pdf
Economics
2011
5
20
http://hdl.handle.net/2241/115178
1864-6042
https://tsukuba.repo.nii.ac.jp/record/26218/files/economics_5-2011.pdf
eng
© Author(s) 2011. Licensed under a Creative Commons License - Attribution-NonCommercial 2.0 Germany