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Flexibility, Firm-Specific Turbulence and the Performance of the Long-lived Small Firm

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  • Bernadette Power
  • Gavin Reid

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Abstract

The hypothesis that flexibility enhances the long run prospects of the small firm is explored by examining precipitating causes of organizational change within it, and consequential adjustments. The study is fieldwork based and uses evidence gathered directly from entrepreneurs. New measures of flexibility and firm-specific turbulence are used to explain long-run performance, measured over 28 distinct attributes. Econometric estimates (using GLS and Heckman selectivity correction) are reported, on the relationship between flexibility, firm-specific turbulence and performance. Firm-specific turbulence is shown to have a negative effect on performance, but the latter is enhanced by increasing the flexibility of the small firm. Copyright Springer 2005

Suggested Citation

  • Bernadette Power & Gavin Reid, 2005. "Flexibility, Firm-Specific Turbulence and the Performance of the Long-lived Small Firm," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 26(4), pages 415-443, June.
  • Handle: RePEc:kap:revind:v:26:y:2005:i:4:p:415-443
    DOI: 10.1007/s11151-005-0224-5
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    File URL: http://hdl.handle.net/10.1007/s11151-005-0224-5
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    Citations

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    Cited by:

    1. Erin K. Melton, 2017. "Testing Turbulence: Exploring the Determinants of Managerial Networking," Public Organization Review, Springer, vol. 17(1), pages 19-37, March.
    2. repec:spr:grdene:v:18:y:2009:i:5:d:10.1007_s10726-008-9138-6 is not listed on IDEAS
    3. Marco Cucculelli & Lidia Mannarino & Valeria Pupo & Fernanda Ricotta, 2014. "Owner-management, firm age and productivity in Italian family firms," Mo.Fi.R. Working Papers 99, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.
    4. Petrit Gashi & Iraj Hashi & Geoff Pugh, 2014. "Export behaviour of SMEs in transition countries," Small Business Economics, Springer, vol. 42(2), pages 407-435, February.
    5. Earnhart, Dietrich & Mark Leonard, J., 2016. "Environmental audits and signaling: The role of firm organizational structure," Resource and Energy Economics, Elsevier, vol. 44(C), pages 1-22.
    6. Marco Cucculelli & Giacinto Micucci, 2009. "The Age Effect of Entrepreneurship: Founder's Tenure, Firm Performance and the Economic Environment," Mo.Fi.R. Working Papers 21, Money and Finance Research group (Mo.Fi.R.) - Univ. Politecnica Marche - Dept. Economic and Social Sciences.

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