Ownership and high-growth firms

• 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.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Nationalekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Economics (hsv//eng)

Nyckelord

high-growth firms; gazelles; firm growth; firm ownership; family firms; rapid firm growth

Publikations- och innehållstyp

vet (ämneskategori)

rap (ämneskategori)