Publication:
Corporate Growth, Age and Ownership Structure: Empirical Evidence in Spanish Firms

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dc.contributor.authorde Jorge Moreno, Justo
dc.contributor.authorLaborda Castillo, Leopoldo
dc.date.accessioned2012-03-30T07:33:32Z
dc.date.available2012-03-30T07:33:32Z
dc.date.issued2011
dc.description.abstractThe objective of this work is to analyse firm mobility among the different sectors of the Spanish economy according to a statistical classification of economic activities at the 1-digit level. Some of the stylised facts that we find are: an inverse relation between firm growth and age; an increase in new entrants' average relative size in terms of sales compared to established firms among the different industries and cohorts; the importance of the firm's initial size in entrepreneurial activity; the favourable impact of the economy on firm growth; and a positive relation between non-concentration in the ownership structure and greater mobility. In this context, an efficient corporate governance system may prove as a significant policy tool for the investment and growth prospective of the Spanish economy. The regulatory framework of the Spaniard capital market has been coordinate with the EU standards. The challenge is now mostly for the firms to adopt the appropriate corporate governance structures, in order to achieve real convergence, in terms of productivity and competitiveness, with other developed economies.en
dc.identifier.citationJournal of Business Economics and Management
dc.identifier.issn16111699
dc.identifier.urihttps://hdl.handle.net/10986/5584
dc.language.isoEN
dc.relation.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/igo
dc.rights.holderWorld Bank
dc.subjectMacroeconomics: Production E230
dc.subjectFinancing Policy
dc.subjectFinancial Risk and Risk Management
dc.subjectCapital and Ownership Structure G320
dc.subjectMergers
dc.subjectAcquisitions
dc.subjectRestructuring
dc.subjectVoting
dc.subjectProxy Contests
dc.subjectCorporate Governance G340
dc.subjectProduction, Pricing, and Market Structure
dc.subjectSize Distribution of Firms L110
dc.subjectIndustrial Organization and Macroeconomics : Industrial Structure and Structural Change
dc.subjectIndustrial Price Indices L160
dc.subjectFirm Performance: Size, Diversification, and Scope L250
dc.titleCorporate Growth, Age and Ownership Structure: Empirical Evidence in Spanish Firmsen
dc.title.alternativeJournal of Business Economics and Managementen
dc.typeJournal Articleen
dc.typeArticle de journalfr
dc.typeArtículo de revistaes
dspace.entity.typePublication
okr.doctypeJournal Article
okr.externalcontentExternal Content
okr.identifier.externaldocumentum500
okr.journal.nbpages164-196
okr.language.supporteden
okr.peerreviewAcademic Peer Review
okr.region.countrySpain
okr.relation.associatedurlhttp://search.ebscohost.com/login.aspx?direct=true&db=eoh&AN=1230727&site=ehost-live
okr.relation.associatedurlhttp://www.jbem.vgtu.lt
okr.volume12
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