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High-growth firms in Georgia

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  • Choi, Taelim

    ()
    (Federal Reserve Bank of Atlanta)

  • Robertson, John C.

    ()
    (Federal Reserve Bank of Atlanta)

  • Rupasingha, Anil

    ()
    (Federal Reserve Bank of Atlanta)

Abstract

This paper reports the results of a study of the characteristics and direct employment impact of high-growth firms operating in Georgia. The longitudinal data used in this study are from the National Establishment Time-Series (NETS) database. Using a standard definition of high employment growth to classify firms, we track the direct employment contribution of high-growth firms in the state from 1989 to 2009. We find that only a small fraction of firms satisfied the high-growth employment criteria in any year, but these rapidly growing firms made a disproportionately large contribution to overall job creation in the state. We discover that, as has been found for the United States as a whole, the number of high-growth firms and their average job creation has declined during last decade. We also find that the incidence of high growth and the resulting job creation differ significantly according to size, age, industry, type of organizational structure, and ownership as well as location. A separate analysis focusing on firms with rapid sales revenue growth reveals that firms with fast-growing revenue- are not necessarily firms with fast-growing employment.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Atlanta in its series Working Paper with number 2013-20.

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Length: 36 pages
Date of creation: 01 Dec 2013
Date of revision:
Handle: RePEc:fip:fedawp:2013-20

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Related research

Keywords: high-growth firms; NETS data; job creation; firm age; firm size; industry; organizational structure; business dynamics; location;

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  1. Neumark, David & Zhang, Junfu & Wall, Brandon, 2005. "Employment Dynamics and Business Relocation: New Evidence from the National Establishment Time Series," IZA Discussion Papers 1774, Institute for the Study of Labor (IZA).
  2. Simon Parker & David Storey & Arjen Witteloostuijn, 2010. "What happens to gazelles? The importance of dynamic management strategy," Small Business Economics, Springer, vol. 35(2), pages 203-226, September.
  3. Colin Mason & Ross Brown, 2013. "Creating good public policy to support high-growth firms," Small Business Economics, Springer, vol. 40(2), pages 211-225, February.
  4. Magnus Henrekson & Dan Johansson, 2010. "Gazelles as job creators: a survey and interpretation of the evidence," Small Business Economics, Springer, vol. 35(2), pages 227-244, September.
  5. Davis, Steven J & Haltiwanger, John & Schuh, Scott, 1996. " Small Business and Job Creation: Dissecting the Myth and Reassessing the Facts," Small Business Economics, Springer, vol. 8(4), pages 297-315, August.
  6. Daunfeldt, Sven-Olov & Elert, Niklas & Johansson, Dan, 2010. "The economic contribution of high-growth firms: Do definitions matter?," HUI Working Papers 35, HUI Research.
  7. Scott Shane, 2009. "Why encouraging more people to become entrepreneurs is bad public policy," Small Business Economics, Springer, vol. 33(2), pages 141-149, August.
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