Download This PaperFading Stars
29 Pages Posted: 12 Feb 2019 Last revised: 4 Apr 2026
Date Written: February 2019
Abstract
We study the evolution of super star firms in the U.S. economy over the past 60 years. Contrary to common wisdom, super stars firms have not become larger, have not become more productive, and the contribution of star firms to aggregate U.S. productivity growth has fallen by more than one third since 2000.
Suggested Citation: Suggested Citation
Gutierrez Gallardo, German and Philippon, Thomas, Fading Stars (February 2019). NBER Working Paper No. w25529, Available at SSRN: https://ssrn.com/abstract=3332276
Thomas Philippon
New York University (NYU) - Department of Finance ( email )
Stern School of Business
44 West 4th Street
New York, NY 10012-1126
United States
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