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SSRN
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How Firms Respond to Business Cycles: The Role of Firm Age and Firm Size

SSRN Electronic Journal
2013
  • 85
    Citations
  • 5,873
    Usage
  • 5
    Captures
  • 1
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    85
    • Citation Indexes
      85
  • Usage
    5,873
    • Abstract Views
      5,461
    • Downloads
      412
  • Captures
    5
  • Mentions
    1
    • News Mentions
      1
      • News
        1
  • Ratings
    • Download Rank
      143,809

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Article Description

There remains considerable debate in the theoretical and empirical literature about the differences in the cyclical dynamics of firms by firm size. This paper contributes to the debate in two ways. First, the key distinction between firm size and firm age is introduced. The evidence presented in this paper shows that young businesses (that are typically small) exhibit very different cyclical dynamics than small/older businesses. The second contribution is to present evidence and explore explanations for the finding that young/small businesses were hit especially hard in the Great Recession. The collapse in housing prices accounts for a significant part of the large decline of young/small businesses in the Great Recession.

Bibliographic Details

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