Fluctuation of Firm Size in the Long-Run and Bimodal Distribution

<table>Present value curve <svg height="13.45" id="M131" style="vertical-align:-2.21957pt" version="1.1" viewbox="0 0 27.987499 13.45" width="27.987499" xmlns="http://www.w3.org/2000/svg">
<g transform="matrix(1.25,0,0,-1.25,0,13.45)">
<g transform="translate(72,-61.24)">
<text transform="matrix(1,0,0,-1,-71.95,63.5)">
<tspan style="font-size: 12.50px; " x="0" y="0">𝑉</tspan>
<tspan style="font-size: 12.50px; " x="7.1892252" y="0">(</tspan>
<tspan style="font-size: 12.50px; " x="11.352724" y="0">𝑘</tspan>
<tspan style="font-size: 12.50px; " x="18.129351" y="0">)</tspan>
</text>
</g>
</g>
</svg> for different <svg height="10.925" id="M132" style="vertical-align:-3.13504pt" version="1.1" viewbox="0 0 15.0375 10.925" width="15.0375" xmlns="http://www.w3.org/2000/svg">
<g transform="matrix(1.25,0,0,-1.25,0,10.925)">
<g transform="translate(72,-63.26)">
<text transform="matrix(1,0,0,-1,-71.95,66.44)">
<tspan style="font-size: 12.50px; " x="0" y="0">𝛼</tspan>
</text>
<text transform="matrix(1,0,0,-1,-64.9,63.31)">
<tspan style="font-size: 8.75px; " x="0" y="0">2</tspan>
</text>
</g>
</g>
</svg>.</table>

Advances in Operations Research

Fluctuation of Firm Size in the Long-Run and Bimodal Distribution

Figure 3