Specialization, Transaction Efficiency, and Firm Size: Empirical Evidence |
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| Authors: | Kit-Chun Lam Pak-Wai Liu |
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| Affiliation: | Hong Kong Baptist University, Waterloo Road, Kowloon, Hong Kong; Chinese University of Hong Kong, Shatin, Hong Kong |
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| Abstract: | The paper provides some empirical evidence for the relationship between average firm size and the relative transaction efficiency and per capita income as hypothesized by Liu and Yang in Journal of Economic Behavior and Organization 42(2) (2000):145–65. The empirical data of 11 industries in Hong Kong from 1982 to 1999 are found to be broadly consistent with the predictions of Liu and Yang. |
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