Steindl's analysis of firm growth and the tendency toward industry concentration
A recurring theme in Steindl's analysis of firm growth is the tendency toward industry concentration. His earliest writings examine the influence of risk on firm growth (Steindl (1941, (1945a) and (1945b)). He then turns his attention to the influence of technical progress ( Steindl (1976), and, finally, to the influence of random processes (Steindl (1965)). In each of these analyses there emerges a tendency toward the concentration of industry.
