How to Construct Nationally Representative Firm-Level Data from the Orbis Global Database: New Facts on SMEs and Aggregate Implications for Industry Concentration

Medientyp: E-Artikel
Titel: How to Construct Nationally Representative Firm-Level Data from the Orbis Global Database: New Facts on SMEs and Aggregate Implications for Industry Concentration
Beteiligte: Kalemlİ-Özcan, Şebnem; Sørensen, Bent E.; Villegas-Sanchez, Carolina; Volosovych, Vadym; Yeşiltaş, Sevcan
Erschienen: American Economic Association, 2024
Erschienen in: American Economic Journal: Macroeconomics
Sprache: Englisch
DOI: 10.1257/mac.20220036
ISSN: 1945-7707; 1945-7715
Schlagwörter: General Economics, Econometrics and Finance
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Beschreibung: <jats:p> We construct nationally representative firm-level longitudinal data for European countries using financial statements from the Orbis database. We validate our data by comparing its coverage and firm size distribution to official statistics. We showcase two applications to show the importance of firm representativeness in understanding macroeconomic outcomes. First, we show that small and medium-sized firms account for a large share of aggregate economic activity. Second, we document that firm representativeness is important for calculating industry concentration trends over time as the share of economic activity accounted by top firms in an industry changes with the firm samples used. (JEL C81, D22, G30, L11, L25, L60) </jats:p>

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