Big and fragile: when size does not shield from default

Analysing a large sample of Italian firms we find that the probability of default increases with size. This contrasts with the common observation, based on measures of exit from business registry data, that firms' death rate is inversely related to the scale of their operation and suggests a rethinking of the economic role of larger companies.

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Year of publication:	2011
Authors:	Bottazzi, Giulio ; Tamagni, Federico
Published in:	Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 18.2011, 14, p. 1401-1404
Publisher:	Taylor & Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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