TY  - UNPD
A1  - Kwon, Spencer Yongwook
A1  - Ma, Yueran
A1  - Zimmermann, Kaspar
T1  - 100 years of rising corporate concentration
T2  - SAFE working paper ; No. 359
N2  - We collect data on the size distribution of all U.S. corporate businesses for 100 years. We document that corporate concentration (e.g., asset share or sales share of the top 1%) has increased persistently over the past century. Rising concentration was stronger in manufacturing and mining before the 1970s, and stronger in services, retail, and wholesale after the 1970s. Furthermore, rising concentration in an industry aligns closely with investment intensity in research and development and information technology. Industries with higher increases in concentration also exhibit higher output growth. The long-run trends of rising corporate concentration indicate increasingly stronger economies of scale.
T3  - SAFE working paper - 359 
KW  - Corporate concentration
KW  - economies of scale
Y1  - 2022
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/64957
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-649573
UR  - https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3936799
IS  - May 2022
PB  - SAFE
CY  - Frankfurt am Main
ER  -