On the Evolution of Firm Size Distributions
研究融资约束对企业规模分布的影响，发现受约束企业规模更小，但在OECD国家中整体影响不大，表明融资约束不是发达经济体企业规模分布演变的主要决定因素。
We study the impact of financial constraints on firm size distribution (FSD). We find that financially constrained firms, identified using various proxies, are smaller than the others (their FSD is more skewed to the right). Among OECD countries, however, the FSD of nonconstrained firms virtually overlaps that of the entire sample, suggesting that the overall impact of financial constraints on the FSD is modest. The difference is more pronounced in our sample of firms from non-OECD countries. We conclude that financial constraints cannot be considered the main determinant of the FSD evolution in developed economies.