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ID:
143359
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| Summary/Abstract |
This paper studies the temporal evolution of the size distribution of China's listed companies. We first identify a Pareto distribution for the upper-tail distribution. Unexpectedly, we observe that overall the Pareto coefficients decreased over the years from 2001 to 2013, which has not been reported previously in the literature. In particular, the Pareto coefficients dropped significantly during 2001 to 2008, and then fluctuated at the lowest level after 2008. A decreasing Pareto coefficient implies that the firm size inequality of the China's listed companies continuously increases during these years. By analyzing the relationship between the growth and size of firms based on a panel data model, we find that one possible reason causing the Pareto coefficients to decrease is that large firms grow faster than small ones, which is in particularly true during the non-tradable shares reform period. Furthermore, estimation results of the panel data model show that after 2008 large firms grew not as fast as they would before 2008, indicating a possible negative outcome due to the global financial crisis, which affected the growth of large firms. In addition, we examine the newly listed companies and discover that the newly listed companies with size greater than the lower bound of Pareto distribution also contribute to the decrease of the Pareto coefficients.
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| 2 |
ID:
147495
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| Summary/Abstract |
This paper analyses the statistical distribution of war sizes. Using a new methodology we find moderate support for a Pareto-type distribution (power law), considering data from different sources (COW and UCDP) and periods. A power law is a plausible model for the size distribution of a pool of all wars and a sample of wars in many years, although the log-normal distribution is a plausible alternative model that we cannot reject. The random growth of conflicts could generate both types of distribution. We study the growth rates of battle deaths and random growth cannot be rejected for most of the distribution, although the results also reveal a clear decreasing pattern; the growth of deaths declines faster if the number of initial deaths is greater.
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