IDEAS home Printed from https://ideas.repec.org/a/ekz/ekonoz/2016207.html
   My bibliography  Save this article

High-growth firms and innovation in European countries

Author

Listed:
  • Agustí Segarra Blasco

    (Universitat Rovira i Virgili)

  • Mercedes Teruel Carrizosa

    (Universitat Rovira i Virgili)

  • Elisenda Jové Llopis

    (Universitat Rovira i Virgili)

Abstract

This paper analyses the effect of innovation on a high-growth firm (HGF). The micro-data belongs to the Community Innovation Survey 2008 provided by Eurostat covering the period 2006-2008 for 15 European countries. We classify the EU countries in two groups according to the share of business R&D on GDP: leader countries (Germany, Slovenia, Czech Republic, Norway, Portugal, Spain and Italy) and laggard countries (Estonia, Hungary, Slovakia, Lithuania, Romania, Bulgaria, Latvia and Cyprus). Firms in leader countries are more prone to invest in R&D but the presence of HGFs is more moderated than firms in laggard countries. Our main results show that the drivers to innovate and become a HGF differ across European countries. In leader countries, the HGF firms presence is related to R+D inversions and innovation, whereas in laggard countries depend directly on the size of the firm, as well as the turbulence rate in the economy as a whole. All in all, our results show light on the different entrepreneurial ecosystems of the European Union member countries.

Suggested Citation

  • Agustí Segarra Blasco & Mercedes Teruel Carrizosa & Elisenda Jové Llopis, 2016. "High-growth firms and innovation in European countries," EKONOMIAZ. Revista vasca de Economía, Gobierno Vasco / Eusko Jaurlaritza / Basque Government, vol. 90(02), pages 194-221.
    • Handle: RePEc:ekz:ekonoz:2016207
    as

    Download full text from publisher

    File URL: http://www.ogasun.ejgv.euskadi.eus/r51-k86aekon/es/k86aEkonomiazWar/ekonomiaz/downloadPDF?R01HNoPortal=true&idpubl=86®istro=12
    File Function: complete text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. 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.
    2. 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.
    3. Werner Hölzl, 2014. "Persistence, survival, and growth: a closer look at 20 years of fast-growing firms in Austria," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(1), pages 199-231, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Francisco Rodrigues & Nuno Tavares & Gabriel Osório Barros, 2021. "Drivers of exceptional job creation – a dynamic probit approach using portuguese firm-level data," Portuguese Economic Journal, Springer;Instituto Superior de Economia e Gestao, vol. 20(1), pages 45-69, January.
    2. Agustí Segarra-Blasco & Mercedes Teruel & Elisenda Jové-Llopis, 2018. "High-growth firms in European countries: The role of innovation," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 37(75), pages 637-808, January.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Serban Mogos & Alex Davis & Rui Baptista, 2021. "High and sustainable growth: persistence, volatility, and survival of high growth firms," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(1), pages 135-161, March.
    2. Yannis Caloghirou & Ioannis Giotopoulos & Alexandra Kontolaimou & Aggelos Tsakanikas, 2022. "Inside the black box of high-growth firms in a crisis-hit economy: corporate strategy, employee human capital and R&D capabilities," International Entrepreneurship and Management Journal, Springer, vol. 18(3), pages 1319-1345, September.
    3. Alex Coad & Stjepan Srhoj, 2020. "Catching Gazelles with a Lasso: Big data techniques for the prediction of high-growth firms," Small Business Economics, Springer, vol. 55(3), pages 541-565, October.
    4. Cosimo Abbate & Alessandro Sapio, 2016. "Gazelles and muppets in the City: Stock market listing, risk sharing, and firm growth quantiles," LEM Papers Series 2016/33, Laboratory of Economics and Management (LEM), Sant'Anna School of Advanced Studies, Pisa, Italy.
    5. Alex Coad & Gregory Scott, 2018. "High-growth firms in Peru," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 37(75), pages 671-696, May.
    6. Taelim Choi & John C. Robertson & Anil Rupasingha, 2013. "High-growth firms in Georgia," FRB Atlanta Working Paper 2013-20, Federal Reserve Bank of Atlanta.
    7. Alvedalen, Janna & Carlsson, Bo, 2021. "Scaling up in Entrepreneurial Ecosystems: A comparative study of Entrepreneurial Ecosystems in Life Science," Papers in Innovation Studies 2021/9, Lund University, CIRCLE - Centre for Innovation Research.
    8. Silviano Esteve-Pérez & Fabio Pieri & Diego Rodriguez, 2022. "One swallow does not make a summer: episodes and persistence in high growth," Small Business Economics, Springer, vol. 58(3), pages 1517-1544, March.
    9. Brown, Ross & Lee, Neil, 2014. "Funding issues confronting high growth SMEs in the UK," LSE Research Online Documents on Economics 57264, London School of Economics and Political Science, LSE Library.
    10. Daniel L. Bennett, 2021. "Local economic freedom and creative destruction in America," Small Business Economics, Springer, vol. 56(1), pages 333-353, January.
    11. Daniele Moschella & Federico Tamagni & Xiaodan Yu, 2019. "Persistent high-growth firms in China’s manufacturing," Small Business Economics, Springer, vol. 52(3), pages 573-594, March.
    12. Lukeš, Martin & Longo, Maria Cristina & Zouhar, Jan, 2019. "Do business incubators really enhance entrepreneurial growth? Evidence from a large sample of innovative Italian start-ups," Technovation, Elsevier, vol. 82, pages 25-34.
    13. Diego F. Grijalva & Valeria Ayala & Paúl A. Ponce & Yelitza Pontón, 2018. "Does firm innovation lead to high growth? Evidence from Ecuadorian firms," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 37(75), pages 697-726, May.
    14. José Miguel Giner & María Jesús Santa-María & Antonio Fuster, 2017. "High-growth firms: does location matter?," International Entrepreneurship and Management Journal, Springer, vol. 13(1), pages 75-96, March.
    15. Coad, Alex & Srhoj, Stjepan, 2023. "Entrepreneurial ecosystems and regional persistence of high growth firms: A ‘broken clock’ critique," Research Policy, Elsevier, vol. 52(6).
    16. Lange, Francie & Tomini, Nino & Brinkmann, Florian & Kanbach, Dominik K. & Kraus, Sascha, 2023. "Demystifying massive and rapid business scaling – An explorative study on driving factors in digital start-ups," Technological Forecasting and Social Change, Elsevier, vol. 196(C).
    17. Daunfeldt, Sven-Olov & Halvarsson, Daniel & Gustavsson Tingvall, Patrik & McKelvie, Alexander, 2021. "Do Targeted R&D Grants Towards Potential Highgrowth Firms Increase Employment and Demand for High Human Capital Workers?," HFI Working Papers 23, Institute of Retail Economics (Handelns Forskningsinstitut).
    18. Daunfeldt, Sven-Olov & Seerar Westerberg, Hans, 2017. "Are unemployed immigrants more likely to be hired by high-growth firms? Evidence from matched employer-employee data," HUI Working Papers 128, HUI Research.
    19. Erhardt, Eva, 2017. "Who persistently creates jobs? Absolute versus relative high-growth firms," MPRA Paper 79307, University Library of Munich, Germany.
    20. Marcio Cruz & Leila Baghdadi & Hassen Arouri, 2022. "High growth firms and trade linkages: Imports do matter," Small Business Economics, Springer, vol. 59(1), pages 79-92, June.

    More about this item

    Keywords

    Empresas de rápido crecimiento; High-growth firms; actividad innovadora; crecimiento empresarial; firm growth; innovation activity;
    All these keywords.

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ekz:ekonoz:2016207. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Iñaki Treviño (email available below). General contact details of provider: https://edirc.repec.org/data/debages.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.