the opposite is true when we allow for market selection. Indeed, the growth behavior of the re-shaped (smaller) population … confirm the rejection of the Gibrat's law when our firm-level data are considered over the entire investigated period, while … of the survived most efficient firms is in line with the Law of Proportionate Effect; this evidence reconciles early and …

have analysed this sector. However, rather few articles have focused on the dynamics of growth and profit. The purpose of … finding is that Gibrat's law (LPE) does not seem to hold, meaning the growth is not independent of the size of the firms … tourism and employment. It consists mainly of many small businesses that are regionally dispersed. There are many studies that …