de Jorge Moreno, JustoLaborda Castillo, Leopoldo2012-03-302012-03-302011Journal of Business Economics and Management16111699https://hdl.handle.net/10986/5584The 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.ENMacroeconomics: Production E230Financing PolicyFinancial Risk and Risk ManagementCapital and Ownership Structure G320MergersAcquisitionsRestructuringVotingProxy ContestsCorporate Governance G340Production, Pricing, and Market StructureSize Distribution of Firms L110Industrial Organization and Macroeconomics : Industrial Structure and Structural ChangeIndustrial Price Indices L160Firm Performance: Size, Diversification, and Scope L250Journal ArticleWorld Bank