Cloud Computing and Firm Growth
利用企业层面数据，通过光纤宽带速度的工具变量，发现云计算促进年轻企业收入、就业和生产力增长，而现有企业经历重组和地理重组。
Abstract Cloud computing has shifted how firms access IT away from investment in fixed capital to pay-on-demand services that facilitate remote and simultaneous use. Using firm-level data, we examine the impact of cloud adoption on firm performance and organizational geography with an IV approach that exploits cross-section and time-series variation in fiber broadband speeds as instruments. Cloud leads younger firms to increase revenue, employment, and productivity, whereas incumbent firms experience no scale effects and weaker productivity gains. Incumbents, however, undergo restructuring through establishment deaths and fewer births, while both types of firms experience geographic reorganization shifting farther from the headquarters.