Evidence of a Threshold Size for Norwegian Campsites and Its Dynamic Growth Process Implications—Does Gibrat’s Law Hold?

Although campsites are an important segment of the tourist sector, few applied articles have analyzed their growth path and tested Gibrat’s Law for firms within this industry. This knowledge can be importance to authorities when analyzing regional impacts in sector. With government statistics from last decade, we use a GMM framework test stricter version Law, which consist three parts: campsites’ trend, how they carry over success failure, volatile size is. The first third part rejected Norwegian campsites, leading rejection Law. To see if different sizes follow dynamics, split sample parts. Here, find evidence threshold size, as large fundamentally dynamic than small medium campsites. Specifically, gain no stability revenue by further increases whereas success/failure across years. opposite is true rest on at least one count each sub-samples. Lastly, supplement analysis with economy-wide firm-specific variables hypotheses.