Ownership and high-growth firms

Bjuggren, Carl Magnus,1979-Linköpings universitet,Nationalekonomi,Tekniska högskolan (författare)

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.

SAMHÄLLSVETENSKAP Ekonomi och näringsliv Nationalekonomi hsv//swe
SOCIAL SCIENCES Economics and Business Economics hsv//eng
high-growth firms; gazelles; firm growth; firm ownership; family firms; rapid firm growth;

Daunfeldt, Sven-OlovThe Swedish Ratio Institute (HUI), Stockholm, Sweden; Dalarna University, Borlänge, Sweden,The Swedish Retail Institute (HUI) & Dalarna University, Sweden. (författare)
Johansson, Dan,1964-The Swedish Ratio Institute (HUI), Stockholm, Sweden,The Swedish Retail Institute (HUI) & Dalarna University, Sweden.(Swepub:oru)dnjn (författare)
Linköpings universitetNationalekonomi (creator_code:org_t)

Av författaren/redakt...: Bjuggren, Carl M ...; Daunfeldt, Sven- ...; Johansson, Dan, ...

Om ämnet

SAMHÄLLSVETENSKAP: SAMHÄLLSVETENSKA ...; och Ekonomi och näri ...; och Nationalekonomi

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