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Entrepreneurial Efficiency : An Empirical Framework and Evidence

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Authors
Takii, Katsuya
Issue Date
2007
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 20 (No. 4 2007): 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
URI
http://hdl.handle.net/10371/1394
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College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.20(4) (Winter 2007)
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