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Entrepreneurial Efficiency: An Empirical Framework and Evidence

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주제분류경제학

초록

This paper examines a particular aspect of entrepreneurship, namely firms' activities in adapting to idiosyncratic environ- mental changes by appropriately reallocating resources. It presents an empirical framework that examines the social value of firms' abilities to predict and adapt to the movement of idiosyncratic shocks. In order to demonstrate how to implement our menthod, the quantitative effect of firms' prediction ability on Tatal Factor Productivity (TFP) is investigated using semi-aggregated data from Japan's Census of Manufacturing.

Abstract

This paper examines a particular aspect of entrepreneurship, namely firms' activities in adapting to idiosyncratic environ- mental changes by appropriately reallocating resources. It presents an empirical framework that examines the social value of firms' abilities to predict and adapt to the movement of idiosyncratic shocks. In order to demonstrate how to implement our menthod, the quantitative effect of firms' prediction ability on Tatal Factor Productivity (TFP) is investigated using semi-aggregated data from Japan's Census of Manufacturing.

참고문헌 (33)

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