This article explores the association between persistence of high-growth and crucial dimensions of firm structure and performance (productivity, profits, investment patterns, innovation, and financial structures) to shed light on what makes a persistent high-growth firm. We employ a multidimensional definition of a high-growth firm that simultaneously accounts for growth of sales and employment, and design an empirical strategy that seeks to capture the “long-run” ability of high-growth firms to replicate their high-growth performance over time. Exploiting a large panel covering the period of the China’s miracle, we find that none of the considered firm attributes stands out as distinctive feature of persistent high-growth. This finding casts doubts on the long-run contribution of high-growth firms, in turn challenging the long-run effectiveness of policies supporting the creation and expansion of such firms.

Moschella, D., Tamagni, F., Yu, X., Persistent high-growth firms in China’s manufacturing, <<SMALL BUSINESS ECONOMICS>>, 2019; 52 (3): 573-594. [doi:10.1007/s11187-017-9973-4] [http://hdl.handle.net/10807/205401]

Persistent high-growth firms in China’s manufacturing

Yu, X.
2019

Abstract

This article explores the association between persistence of high-growth and crucial dimensions of firm structure and performance (productivity, profits, investment patterns, innovation, and financial structures) to shed light on what makes a persistent high-growth firm. We employ a multidimensional definition of a high-growth firm that simultaneously accounts for growth of sales and employment, and design an empirical strategy that seeks to capture the “long-run” ability of high-growth firms to replicate their high-growth performance over time. Exploiting a large panel covering the period of the China’s miracle, we find that none of the considered firm attributes stands out as distinctive feature of persistent high-growth. This finding casts doubts on the long-run contribution of high-growth firms, in turn challenging the long-run effectiveness of policies supporting the creation and expansion of such firms.
Inglese
Moschella, D., Tamagni, F., Yu, X., Persistent high-growth firms in China’s manufacturing, <<SMALL BUSINESS ECONOMICS>>, 2019; 52 (3): 573-594. [doi:10.1007/s11187-017-9973-4] [http://hdl.handle.net/10807/205401]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10807/205401
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