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HGX: the anatomy of high growth exporters

Author

Listed:
  • Stjepan Srhoj

    (University of Split)

  • Alex Coad

    (Waseda University)

  • Janette Walde

    (University of Innsbruck)

Abstract

Previous work has found that a small number of export superstars contribute disproportionally to the economy’s overall exports. Differently from export superstars, this study is the first to define high growth exporters (HGXs) (that are not export superstars) as a new firm category. We provide their economic importance and depict their micro-level anatomy. By tracking HGXs in Croatia for over a quarter of a century, 44 out of 100 export superstars in 2019 were previously HGXs. HGXs represent only 0.5% of all firms and 18% of high growth firms (HGFs) in the economy, but are responsible for about 25% of new exports and 5% of new jobs. During their growth episode, HGXs hire more employees from technology intensive industries with previous experience in exporting. They often hire on a single year work contract, and more frequently send new employees to work abroad. HGX also increase their presence in more advanced markets, increase the number of new export products and decrease their reliance on the largest product or largest export market. We argue HGXs represent an under-researched category of firms.

Suggested Citation

  • Stjepan Srhoj & Alex Coad & Janette Walde, 2024. "HGX: the anatomy of high growth exporters," Small Business Economics, Springer, vol. 63(4), pages 1695-1720, December.
    • Handle: RePEc:kap:sbusec:v:63:y:2024:i:4:d:10.1007_s11187-024-00884-5
    DOI: 10.1007/s11187-024-00884-5
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    More about this item

    Keywords

    Exporting; Firms; High growth firms; High growth exporters;
    All these keywords.

    JEL classification:

    • F2 - International Economics - - International Factor Movements and International Business
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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