Changes of firm size distribution The case of Korea

Title
Changes of firm size distribution The case of Korea
Author(s)
정종철Yoon, Seong-Min[Yoon, Seong-Min]Kang, Sang Hoon[Kang, Sang Hoon]Jiang, Zhuhua[Jiang, Zhuhua]
Keywords
ZIPF DISTRIBUTION; BUSINESS FIRMS; GROWTH; COUNTRIES
Issue Date
201101
Publisher
ELSEVIER SCIENCE BV
Citation
PHYSICA A-STATISTICAL MECHANICS AND ITS APPLICATIONS, v.390, no.2, pp.319 - 327
Abstract
In this paper the distribution and inequality of firm sizes is evaluated for the Korean firms listed on the stock markets Using the amount of sales total assets capital and the number of employees respectively as a proxy for firm sizes we find that the upper tail of the Korean firm size distribution can be described by power-law distributions rather than lognormal distributions Then we estimate the Zipf parameters of the firm sizes and assess the changes in the magnitude of the exponents The results show that the calculated Zipf exponents over time increased prior to the financial crisis but decreased after the crisis This pattern implies that the degree of inequality in Korean firm sizes had severely deepened prior to the crisis but lessened after the crisis Overall the distribution of Korean firm sizes changes over time and Zipf's law is not universal but does hold as a special case (C) 2010 Elsevier B V All rights reserved
URI
http://hdl.handle.net/YU.REPOSITORY/25745http://dx.doi.org/10.1016/j.physa.2010.10.007
ISSN
0378-4371
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기초교육대학 > 교양학부 > Articles
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