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.

Persistent high-growth firms in China’s manufacturing / Moschella, D.; Tamagni, F.; Yu, X.. - In: SMALL BUSINESS ECONOMICS. - ISSN 0921-898X. - 52:3(2019), pp. 573-594. [10.1007/s11187-017-9973-4]

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.
China; Entrepreneurship; High-growth firms; Persistent high-growth firms
Persistent high-growth firms in China’s manufacturing / Moschella, D.; Tamagni, F.; Yu, X.. - In: SMALL BUSINESS ECONOMICS. - ISSN 0921-898X. - 52:3(2019), pp. 573-594. [10.1007/s11187-017-9973-4]
File in questo prodotto:
File Dimensione Formato  
Moschella_Tomagni_Yu-2019-SBE.pdf

Solo gestori archivio

Descrizione: Moschella_Tamagni_Yu_2019_SBE
Tipologia: Versione dell'editore
Licenza: DRM non definito
Dimensione 741.73 kB
Formato Adobe PDF
741.73 kB Adobe PDF   Visualizza/Apri
Pubblicazioni consigliate

Caricamento pubblicazioni consigliate

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11385/197580
Citazioni
  • Scopus 29
  • ???jsp.display-item.citation.isi??? 29
social impact