earticle

영어

This study aims to elucidate the origin of collective phenomena in rm size distribution. Our explanation is that corporate bankruptcy is a source of emerging complexity and that information disparity works as a supplementary factor aecting the power law behavior. The model predicts a negative association between information disparity and collective mechanism in rm sizes, which is conrmed by US corporate bankruptcy data. Findings indicate that the \dragon-king" rms would encounter higher probabilities of bankruptcy in a better information environment, which further implies that their in uence might become even stronger.