Correlated shocks within firms
2018
Tweedle, Jesse
This paper investigates the correlations and covariances of the growth rates of establishments that have a common parent firm. Due to its association with cross-country business cycles and propagation of idiosyncratic shocks, firm comovement is an important facet of macroeconomic research. Using a long panel of Canadian manufacturing establishments, I find that within-firm establishment pairs have correlations 0.0477 higher than between-firm establishment pairs (which have an average correlation very close to zero) after controlling for industry and region effects.
显示更多 [+] 显示较少 [-]AGROVOC关键词
书目信息
出版者
Elsevier B.V.
其它主题
Firm ownership; Firm volatility; E32; L20; Covariance; L25
语言
英语
类型
Journal Article; Text
2024-02-28
MODS