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A Historical Perspective on Small Firm Development

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  • Reuben Vinnell
  • R. T. Hamilton

Abstract

This paper presents a case study of the process of small firm growth, stability, and decline using historical method. The objective is to develop understanding of why growth is pursued when it is and hence advance understanding of the lack of persistence in growth over extended periods. Most empirical studies of small firm development have used cross-sectional designs and quantitative methods (usually multiple regression) to explain single episodes of growth measured over short intervals of time. These have generally yielded fairly weak explanations and are unable to say anything at all about why growth was embarked upon and what happens within the firm before, during, and after the growth phase. This study, in contrast, relates phases of growth, stability, and decline to a set of forces, external and internal, acting on and within the firm over time. Small firm development is revealed to be complex, the result of an idiosyncratic and unstable process involving the interplay of the local environment and features internal to the firm.

Suggested Citation

  • Reuben Vinnell & R. T. Hamilton, 1999. "A Historical Perspective on Small Firm Development," Entrepreneurship Theory and Practice, , vol. 23(4), pages 5-18, July.
    • Handle: RePEc:sae:entthe:v:23:y:1999:i:4:p:5-18
    DOI: 10.1177/104225879902300401
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    References listed on IDEAS

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    Cited by:

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    2. Kholekile L. Gwebu & Jeffrey Sohl & Jing Wang, 2019. "Differential performance of science park firms: an integrative model," Small Business Economics, Springer, vol. 52(1), pages 193-211, January.
    3. Suzanne Mawson, 2018. "Customer perceived value in high growth firms," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 37(75), pages 755-778, December.
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    5. 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.
    6. Ensley, Michael D. & Pearce, Craig L. & Hmieleski, Keith M., 2006. "The moderating effect of environmental dynamism on the relationship between entrepreneur leadership behavior and new venture performance," Journal of Business Venturing, Elsevier, vol. 21(2), pages 243-263, March.

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