Do Firms’ Growth Rates Follow a Random Walk? Evidence from Incubated Small and Medium Enterprises in South Africa
Debate on the validity of the Law of Proportionate Effect (LPE) on firm growth is ongoing decades after it was postulated by Gibrat in 1931. The theoretical model which asserts that firm growth follows a random walk has been largely tested in developed economies using data from non-incubated firms,...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Research and Postgraduate Support Directorate
2023-04-01
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| Series: | African Journal of Inter-Multidisciplinary Studies |
| Subjects: | |
| Online Access: | https://journals.dut.ac.za/index.php/ajims/article/view/1091 |