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Ownership and High-Growth Firms

  • Bjuggren, Carl Magnus

    ()

    (Ratio)

  • Daunfeldt, Sven-Olov

    ()

    (Ratio)

  • Johansson, Dan

    ()

    (Ratio)

Empirical studies demonstrate that most net job-growth originates from a small number of high-growth firms (HGFs). The purpose of this paper is to analyze whether firm ownership – family, or private non-family – matters for being a HGF, using data covering all firms in Sweden during 1993-2006. Firm growth is measured in terms of absolute employment growth, relative employment growth and as a combination of absolute and relative employment growth (the so-called Birch-index). We find that family ownership decreases the probability of exhibiting high growth. Changing ownership from family to private non family increases the probability of being a HGF, whereas a change from private non-family to family ownership decreases the probability of being a HGF. The results are robust, irrespective of measurement of firm growth, suggesting that ownership and changes in ownership are important determinants of rapid firm growth.

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File URL: http://ratio.se/app/uploads/2014/11/sod_dj_cmb_ownership_147.pdf
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Paper provided by The Ratio Institute in its series Ratio Working Papers with number 147.

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Length: 24 pages
Date of creation: 01 Feb 2010
Date of revision: 29 Sep 2010
Handle: RePEc:hhs:ratioi:0147
Contact details of provider: Postal: The Ratio Institute, P.O. Box 5095, SE-102 42 Stockholm, Sweden
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  1. André van Stel & Jolanda Hessels & F. Stam & Kashifa Suddle, 2006. "High growth entrepreneurs, public policies and economic growth," Scales Research Reports H200608, EIM Business and Policy Research.
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  9. Henrekson, Magnus & Johansson, Dan, 2008. "Competencies and Institutions Fostering High-growth Firms," Working Paper Series 757, Research Institute of Industrial Economics.
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  13. Steven J. Davis & John C. Haltiwanger & Scott Schuh, 1998. "Job Creation and Destruction," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262540932, June.
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  16. Kirchhoff, Bruce A & Greene, Patricia G, 1998. " Understanding the Theoretical and Empirical Content of Critiques of U.S. Job Creation Research," Small Business Economics, Springer, vol. 10(2), pages 153-69, March.
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