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Entrepreneurial Efficiency : An Empirical Framework and Evidence
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- Authors
- Issue Date
- 2007-10
- Citation
- Seoul Journal of Economics, Vol.20 No.4, pp. 447-480
- Keywords
- Entrepreneurship ; Prediction ability ; Total factor productivity ; Allocative efficiency ; Aggregate production function
- Abstract
- This paper examines a particular aspect of entrepreneurship,
namely firms' activities in adapting to idiosyncratic environmental
changes by appropriately reallocating resources. It
presents an empirical framework that examines the social value
of firms' abilities to predict and adapt to the movement of
idiosyncratic shocks. In order to demonstrate how to implement
our menthod, the quantitative effect of firms' prediction ability
on Tatal Factor Productivity (TFP) is investigated using
semi-aggregated data from Japan's Census of Manufacturing.
- ISSN
- 1225-0279
- Language
- English
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