Growth models such as Gibrat’s law and Jovanovic’s theory that examine the relationship between the firms’ growth, age and size have either been tested on data from developed economies or from the manufacturing sectors in developing economies. This study checks the suitability of these models in service sectors in developing economies as service sectors have distinct characteristics and developing economies such as India are heavily dependent on this sector. The current study considers three major service sectors contributing to India’s economy vis-à-vis financial services, information technology and real estate for the period 2002–2005. We observed that during 2002–2005, India’s economy was stable without wide fluctuations in economic performance, such as gross domestic product, unemployment or inflation. These sectors not only had a significant impact on economic growth but also had comprehensive microeconomic data. Our results negate both Gibrat’s law and Jovanovic’s theory. We argue that service sectors which are knowledge-intensive will experience different growth patterns compared to manufacturing sectors. We find a definite and significant relationship between firms’ growth and their size and age. Also, we find concluding evidence that younger firms up to 10 years of age struggle a lot more than older firms in the Indian service sector.

JEL: D20, D21, D22, D02

检验公司成长，年龄和规模之间关系的吉布拉特定律和约瓦诺维奇理论之类的增长模型，已经从发达经济体或发展中经济体的制造业数据中进行了检验。这项研究检查了这些模型在发展中经济体中服务部门的适用性，因为服务业具有鲜明的特征，而印度等发展中经济体严重依赖于该部门。本研究考虑了2002-2005年间三个主要的服务部门，它们对印度的经济，金融服务，信息技术和房地产产生了影响。我们观察到，在2002年至2005年期间，印度经济保持稳定，而经济表现却没有大幅波动，例如国内生产总值，失业或通货膨胀。这些部门不仅对经济增长产生了重大影响，而且拥有全面的微观经济数据。我们的结果否定了吉布拉特定律和约瓦诺维奇的理论。我们认为，与制造业相比，知识密集型服务业将经历不同的增长方式。我们发现企业成长与规模和年龄之间存在明确的显着关系。同样，我们发现结论性证据表明，在印度服务业中，年龄在10岁以下的年轻公司比老公司挣扎得多。我们发现企业成长与规模和年龄之间存在明确的显着关系。同样，我们发现结论性证据表明，在印度服务业中，年龄在10岁以下的年轻公司比老公司挣扎得多。我们发现企业成长与规模和年龄之间存在明确的显着关系。同样，我们发现结论性证据表明，在印度服务业中，年龄在10岁以下的年轻公司比老公司挣扎得多。

JEL：D20，D21，D22，D02