Abstract
Gibrat’s law states that a great deal of the evolution of firm size distribution over time is due to the action of chance. While chance is still seen as an important driver of the size of firms, recent studies call for chance to be supplemented by some more structured models in order to explain the observed patterns of firm size evolution.
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APA
Mata, J. (2018). Gibrat’s Law. In The New Palgrave Dictionary of Economics, Third Edition (pp. 5295–5297). Palgrave Macmillan. https://doi.org/10.1057/978-1-349-95189-5_1239
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