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Urban Vibrancy and Corporate Growth / Casey Dougal, Christopher A. Parsons, Sheridan Titman.
- Format:
- Book
- Author/Creator:
- Dougal, Casey.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w20350.
- NBER working paper series no. w20350
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2014.
- Summary:
- We find that a firm's investment is highly sensitive to the investments of other firms headquartered nearby, even those in very different industries. It also responds to fluctuations in the cash flows and stock prices (q) of local firms outside its sector. These patterns do not appear to reflect exogenous area shocks such as local shocks to labor or real estate values, but rather suggest that local agglomeration economies are important determinants of firm investment and growth.
- Notes:
- Print version record
- July 2014.
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