Persistent high-growth firms in China’s manufacturing
| Autor: | Daniele Moschella, Federico Tamagni, Xiaodan Yu |
|---|---|
| Rok vydání: | 2018 |
| Předmět: |
Economics and Econometrics
Entrepreneurship China 05 social sciences Persistent high-growth firms Settore SECS-P/06 - ECONOMIA APPLICATA Investment (macroeconomics) General Business Management and Accounting High-growth firms 0502 economics and business Business 050207 economics Productivity 050203 business & management Industrial organization |
| Zdroj: | Small Business Economics |
| ISSN: | 0921-898X |
| DOI: | 10.1007/s11187-017-9973-4 |
| Popis: | 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. |
| Databáze: | OpenAIRE |
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