Small Firms Defy Gibrat's Law, Grow Faster as They Age
The article explores how the age and size of companies affect their growth and success in the manufacturing industry. By analyzing data from over 100,000 firms, the researchers found that older firms are less likely to fail or experience rapid growth. They also discovered that as firms get bigger, their growth rate slows down, which goes against the idea that all firms grow at the same rate. To confirm these findings, more detailed data will be needed in the future.