What explains the presence of High-growth firms in industries?
Previous examinations of the literature suggests that high-growth firms (HGFs) exist in all or most industries, are not overrepresented in high-tech, and if anything appear to be slightly overrepresented in services. In an updated overview, we find that more recent studies, employing better statistical methods, show a clear link between technological sophistication and HGFs. In a tobit model we examine what factors explain the presence of HGFs across 5-digit-NACE-industries in Sweden 1997-2005. We find that technological sophistication is crucial for the prevalence of HGFs in an industry, particularly in services. These results are in line with both current research and previous research concerning Sweden. We conclude that innovation is crucial for firm growth.
References listed on IDEAS
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- Sven-olov Daunfeldt & Niklas Rudholm & Fredrik Bergström, 2006.
"Entry into Swedish Retail and Wholesale Trade Markets,"
Review of Industrial Organization,
Springer;The Industrial Organization Society, vol. 29(3), pages 213-225, November.
- Daunfeldt , Sven-Olov & Rudholm, Niklas & Bergström, Fredrik, 2002. "Entry into Swedish Retail- and Wholesale Trade Markets," Umeå Economic Studies 599, Umeå University, Department of Economics.
- Daunfeldt, Sven-Olov & Rudholm, Niklas & Bergström, Fredrik, 2005. "Entry into Swedish Retail and Wholesale Trade Markets," HUI Working Papers 2, HUI Research.
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- Henrekson, Magnus & Johansson, Dan, 2008. "Gazelles as Job Creators – A Survey and Interpretation of the Evidence," Ratio Working Papers 117, The Ratio Institute.
- Erik Stam & Karl Wennberg, 2009. "The roles of R&D in new firm growth," Small Business Economics, Springer, vol. 33(1), pages 77-89, June.
- Erik Stam & Karl Wennberg, 2009. "The role of R&D in new firm growth," Jena Economic Research Papers 2009-004, Friedrich-Schiller-University Jena.
- Michael Wyrwich, 2009. "Socioeconomic heritage and rapid firm growth," Jena Economic Research Papers 2009-092, Friedrich-Schiller-University Jena.
- Delmar, Frederic & Davidsson, Per & Gartner, William B., 2003. "Arriving at the high-growth firm," Journal of Business Venturing, Elsevier, vol. 18(2), pages 189-216, March. Full references (including those not matched with items on IDEAS)
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