Do the Largest Firms Grow the Fastest? The Case of U.S. Dairies



Do the Largest Firms Grow the Fastest?
The Case of U.S. Dairies

Abstract

We analyze growth and diversification of U.S. dairy farms by examining longitudinal
changes in ten size cohorts and new entrants through three successive censuses. Gibrat’s
law (random walk) and mean reversion hypotheses of growth are tested and rejected.
Growth rates are bimodal with the largest farm cohort growing the fastest. All cohorts
become more diversified over time, and smaller farms diversify most rapidly. New
entrants are generally large, and they diversify more rapidly than incumbents. These data
suggest that scale economies persist even for the largest cohort of dairy farms and that
scale economies dominate scope economies for large farms.



More intriguing information

1. Evolutionary Clustering in Indonesian Ethnic Textile Motifs
2. Cardiac Arrhythmia and Geomagnetic Activity
3. The name is absent
4. AN ANALYTICAL METHOD TO CALCULATE THE ERGODIC AND DIFFERENCE MATRICES OF THE DISCOUNTED MARKOV DECISION PROCESSES
5. NVESTIGATING LEXICAL ACQUISITION PATTERNS: CONTEXT AND COGNITION
6. Experience, Innovation and Productivity - Empirical Evidence from Italy's Slowdown
7. The name is absent
8. The name is absent
9. The name is absent
10. Industrial Cores and Peripheries in Brazil
11. Natural hazard mitigation in Southern California
12. Ventas callejeras y espacio público: efectos sobre el comercio de Bogotá
13. Luce Irigaray and divine matter
14. The name is absent
15. Sex differences in the structure and stability of children’s playground social networks and their overlap with friendship relations
16. TOWARDS THE ZERO ACCIDENT GOAL: ASSISTING THE FIRST OFFICER MONITOR AND CHALLENGE CAPTAIN ERRORS
17. Philosophical Perspectives on Trustworthiness and Open-mindedness as Professional Virtues for the Practice of Nursing: Implications for he Moral Education of Nurses
18. Washington Irving and the Knickerbocker Group
19. The voluntary welfare associations in Germany: An overview
20. Migration and employment status during the turbulent nineties in Sweden