Chinese firm dynamics and the role of ownership type: A conditional estimation approach of the Asymmetric Exponential Power (AEP) density
2014/11/04
研討會日期 : 2014-11-04
時間 : 14:30
主講人 : Professor Shi-Shu Peng
主持人 : Professor Le-Yu Chen
地點 : Conference Room B110
演講者簡介 : Professor Peng received his Ph.D. in Economics from University of California, Berkeley in 2009. He is currently an Assistant Research Fellow at Institute of Economics, Academia Sinica. His research fields are International Economics, Industrial Organization.
演講摘要 : This paper investigates the impact of ownership type on the entire growth rate distributional mass of Chinese firms, using a conditional estimation approach of the Asymmetric Exponential Power (AEP) density that goes beyond simple location-shift analysis. We first find a Chinese growth puzzle, i.e. a deviation from the stylized fact of the variance-scaling relationship than those commonly observed in Western European economies. We then find that the ownership type mainly affects growth rates far-off the mean value. Our results also indicate that barriers to becoming a high growth firm, such as financial constraints, are especially prevalent in the Chinese private sector.
