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The economic contribution of high-growth firms: Do definitions matter?

Author Info

  • Daunfeldt, Sven-Olov

    (The Ratio Institute)

  • Elert, Niklas

    (The Ratio Institute)

  • Johansson, Dan

    ()

    (The Ratio Institute)

Abstract

Prior studies have defined high-growth firms (HGFs) in terms of sales or employment, and analyzed their contribution to employment growth. We define HGFs by employment and sales and add definitions of value added and productivity. We examine the contribution of HGFs to employment growth, economic growth, productivity growth, and sales growth. All HGFs give a disproportionately large positive contribution to economic growth and most also give large positive contributions to growth in employment, productivity and sales. Although HGFs of different definitions are usually not the same firms, young firms are more likely to be HGFs irrespective of definition.

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Paper provided by HUI Research in its series HUI Working Papers with number 35.

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Length: 20 pages
Date of creation: 01 Jan 2010
Date of revision:
Handle: RePEc:hhs:huiwps:0035
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Keywords: Gazelles; Firm growth; High-impact firms;

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Find related papers by JEL classification:
  • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity
  • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
  • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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  1. Werner Hölzl, 2008. "Is the R&D Behaviour of Fast Growing SMEs Different? Evidence from CIS III Data for 16 Countries," WIFO Working Papers 327, WIFO.
  2. Sobel, Russell S., 2008. "Testing Baumol: Institutional quality and the productivity of entrepreneurship," Journal of Business Venturing, Elsevier, vol. 23(6), pages 641-655, November.
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  7. Ana M. Moreno & José C. Casillas, 2007. "High-growth SMEs versus non-high-growth SMEs: a discriminant analysis," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 19(1), pages 69-88, January.
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  11. Deschryvere, Matthias, 2008. "High Growth Firms and Job Creation in Finland," Discussion Papers 1144, The Research Institute of the Finnish Economy.
  12. Werner Hölzl & Klaus Friesenbichler, 2010. "High-growth firms, innovation and the distance to the frontier," Economics Bulletin, AccessEcon, vol. 30(2), pages 1016-1024.
  13. Zoltan Acs & Pamela Mueller, 2006. "Employment effects of business dynamics: Mice, Gazelles and Elephants," Papers on Entrepreneurship, Growth and Public Policy 2006-23, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
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  16. Bjuggren, Carl Magnus & Daunfeldt, Sven-Olov & Johansson, Dan, 2010. "Ownership and High-Growth Firms," Ratio Working Papers 147, The Ratio Institute, revised 29 Sep 2010.
  17. Paloma López-García & Sergio Puente, 2009. "What makes a high-growth firm? A probit analysis using Spanish firm-level data," Working Papers 0920, Banco de España;Working Papers Homepage.
  18. Picot, Garnett & Dupuy, Richard, 1998. "Job Creation by Company Size Class: The Magnitude, Concentration and Persistence of Job Gains and Losses in Canada," Small Business Economics, Springer, vol. 10(2), pages 117-39, March.
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Cited by:

  1. Li, Minghao & Goetz, Stephan J. & Partridge, Mark & Fleming, David A., 2015. "Location Determinants of high Growth Firms," MPRA Paper 66611, University Library of Munich, Germany.
  2. Segarra Blasco, Agustí & Teruel Carrizosa, Mercedes, 2011. "High Growth Firms and Innovation: an empirical analysis for Spanish firms," Working Papers 2072/179669, Universitat Rovira i Virgili, Department of Economics.
  3. Daunfeldt, Sven-Olov & Lang, Åsa & Macuchova, Zuzana & Rudholm, Niklas, 2011. "Firm Growth in the Retail and Wholesale Trade Sectors – Evidence from Sweden," HUI Working Papers 50, HUI Research.
  4. Bornhäll, Anders & Daunfeldt, Sven-Olov & Rudholm, Niklas, 2013. "Sleeping Gazelles: High Profits but No Growth," HUI Working Papers 91, HUI Research.
  5. Sven-Olov Daunfeldt & Daniel Halvarsson, 2015. "Are high-growth firms one-hit wonders? Evidence from Sweden," Small Business Economics, Springer, vol. 44(2), pages 361-383, February.
  6. Werner Hölzl, 2011. "Persistence, Survival and Growth: A Closer Look at 20 Years of High-Growth Firms in Austria," WIFO Working Papers 403, WIFO.
  7. Jun Du & Yama Temouri, 2015. "High-growth firms and productivity: evidence from the United Kingdom," Small Business Economics, Springer, vol. 44(1), pages 123-143, January.
  8. Segarra Blasco, Agustí, 1958- & Teruel, Mercedes, 2014. "High-growth firms and innovation: an empirical analysis for Spanish firms," Working Papers 2072/228402, Universitat Rovira i Virgili, Department of Economics.
  9. Choi, Taelim & Robertson, John C. & Rupasingha, Anil, 2013. "High-growth firms in Georgia," FRB Atlanta Working Paper 2013-20, Federal Reserve Bank of Atlanta.

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