Whom do high-growth firms hire?

Industrial and Corporate Change

Volumn 23, Issue 1, 2014, Pages 293-327

  Coad, Alex ^a,b,c   Daunfeldt, Sven Olov ^d,e   Johansson, Dan ^f   Wennberg, Karl ^g  

^a UNIVERSITY OF SUSSEX   (United Kingdom)

^b AALBORG UNIVERSITY   (Denmark)

^c Stockholm School of Economics   (Sweden)

^d HUI Research   (Sweden)

^e DALARNA UNIVERSITY   (Sweden)

^f ÖREBRO UNIVERSITY   (Sweden)

^g STOCKHOLM SCHOOL OF ECONOMICS   (Sweden)

Author keywords

[No Author keywords available]

Indexed keywords

BUSINESS; ECONOMIC GROWTH; EMPLOYMENT; FIRM SIZE;

SWEDEN;

EID: 84892496468     PISSN: 09606491     EISSN: 14643650     Source Type: Journal    
DOI: 10.1093/icc/dtt051     Document Type: Article

References (78)

1. Abowd, J. M. and F. Kramarz (1999), 'The analysis of labor markets using matched employeremployee data.' Chapter 40 in O. Ashenfelter and D. Card (eds), Handbook of Labor Economics, Vol. 3(Part 2), North Holland: Amsterdam, pp. 2629-2710.
2. Acs, Z. J. and P. Mueller (2008), 'Employment effects of business dynamics: mice, gazelles and elephants,' Small Business Economics, 30(1), 85-100.
3. Acs, Z. J., W. Parsons and S. Tracy (2008), 'High impact firms: Gazelles revisited.' An Office of Advocacy Working Paper. U.S. Small Business Administration.
4. Ahmad, N. (2006), 'A proposed framework for business demographic statistics.' OECD Statistics Working Paper Series, STD/DOC(2006)3. Paris, France.
5. Almus, M. (2002), 'What characterizes a fast-growing firm?' Applied Economics, 34(12), 1497-1508.
6. Anyadike-Danes, M. and M. Hart (2011), 'Does it do what it says on the can?: Taking the OECD "high growth" metric seriously'. Paper presented at the RATIO conference on High-growth firms, Stockholm, Sweden, May 2011.
7. Barney, J., M. Wright and D. J. KetchenJr (2001), 'The resource based view of the firm: ten years after 1991,' Journal of Management, 27(6), 625-641.
8. Barringer, B. R., F. F. Jones and D. O. Neubaum (2005), 'A quantitative content analysis of the characteristics of rapid-growth firms and their founders,' Journal of Business Venturing, 20(5), 663-687.
9. Bassanini, A. (2010), 'Inside the perpetual-motion machine: cross-country comparable evidence on job and worker flows at the industry and firm level,' Industrial and Corporate Change, 19(6), 2097-2134.
10. Batt, R. (2002), 'Managing customer services: human resource practices, quit rates, and sales growth,' Academy of Management Journal, 45(3), 587-597.
11. Becker, B. and B. Gerhardt (1996), 'The impact of human resource management on organizational performance: progress and prospects,' Academy of Management Journal, 39(4), 779-801.
12. Blatter, M., S. Muehlemann and S. Schenker (2012), 'The costs of hiring skilled workers,' European Economic Review, 56, 20-35.
13. Bos, J. and E. Stam (2014), 'Gazelles and industry growth: A study of young high-growth firms in the Netherlands,' Industrial and Corporate Change, 23(1), forthcoming.
14. Birch, D. L. and J. Medoff (1994), 'Gazelles.' in C. S. Lewis and A. R. Levenson (eds), Labor Markets, Employment Policy and Job Creation. Westview Press: Boulder, CO, and London, UK, pp. 159-167.
15. Brüderl, J. and P. Preisendörfer (2000), 'Fast-growing businesses: empirical evidence from a German study,' International Journal of Sociology, 30(3), 45-70.
16. Coad, A. (2007), 'A closer look at serial growth rate correlation,' Review of Industrial Organization, 31, 69-82.
17. Coad, A. (2009), The Growth of Firms: A Survey of Theories and Empirical Evidence. Edward Elgar: Cheltenham, UK.
18. Coad, A. and W. Hölzl (2009), 'On the autocorrelation of growth rates,' Journal of Industry Competition and Trade, 9(2), 139-166.
19. Coad, A. (2010), 'Exploring the processes of firm growth: evidence from a vector autoregression,' Industrial and Corporate Change, 19(6), 1677-1703.
20. Colombelli, A., J. Krafft and F. Quatraro (2014), 'High-growth firms and technological knowledge: do gazelles follow exploration or exploitation strategies?' Industrial and Corporate Change, 23(1), Forthcoming.
21. Dahl, M. S. and S. Klepper (2007), 'Whom do new firms hire?' Paper presented at Harvard Business School (Entrepreneurship Management Seminars). Cambridge, MA, September 26.
22. Daunfeldt, S. O. and D. Halvarsson (2012), 'Are high-growth firms one-hit wonders? Evidence from Sweden.' HUI Working Paper 67, HUI Research. Stockholm, Sweden.
23. Daunfeldt, S. O., N. Elert and D. Johansson (2013), 'The economic contribution of high-growth firms: Do policy implications depend on the choice of growth indicator?.' Journal of Industry Competition and Trade, Forthcoming.
24. Daunfeldt, S. O., D. Halvarsson and D. Johansson (2013), 'A cautionary note on using the Eurostat-OECD definition of high-growth firms.' Journal of Entrepreneurship and Public Policy. forthcoming.
25. Davila, A. and G. Foster (2005), 'Management accounting systems adoption decisions: evidence and performance implications from early-stage/startup companies,' Accounting Review, 80(4), 1039-1068.
26. Delmar, F. and P. Davidsson (1998), 'A taxonomy of high-growth firms.' in P.D. Reynolds et al. (eds), Frontiers of Entrepreneurship Research. Babson College: Wellesley, MA, pp. 399-413.
27. Delmar, F., P. Davidsson and W. B. Gartner (2003), 'Arriving at the high-growth firm,' Journal of Business Venturing, 18(2), 189-216.
28. Delmar, F. and K. Wennberg (2010), Knowledge Intensive Entrepreneurship: The Birth, Growth and Demise of Entrepreneurial Firms. Edward Elgar: Cheltenham, UK.
29. Delmar, F., K. Wennberg and K. Hellerstedt (2011), 'Endogenous growth through knowledge spillovers in entrepreneurship: an empirical test,' Strategic Entrepreneurship Journal, 5(3), 199-226.
30. Dierickx, I. and I. Cool (1989), 'Asset stock accumulation and sustainability of competitive advantage,' Management Science, 35(12), 1504-1511.
31. Eisenhardt, K. M. and C. Schoonhoven (1990), 'Organizational growth: linking founding team, strategy, environment, and growth among U.S. semiconductor ventures, 1978-1988,' Administrative Science Quarterly, 35(3), 504-529.
32. Feldman, D. C. and T. W. H. Ng (2007), 'Careers: mobility, embeddedness, and success,' Journal of Management, 33(3), 350-377.
33. Foss, N. and I. Ishikawa (2007), 'Towards a dynamic resource-based view: insights from Austrian capital and entrepreneurship theory,' Organization Studies, 28(5), 749-772.
34. Foss, N. J., P. G. Klein, Y. Y. Kor and J. T. Mahoney (2008), 'Entrepreneurship, subjectivism, and the resource-based view: toward a new synthesis,' Strategic Entrepreneurship Journal, 2, 73-94.
35. Garen, J. E. (1985), 'Worker heterogeneity, job screening, and firm size,' Journal of Political Economy, 93(4), 715-739.
36. Giuliano, L., D. I. Levine and J. Leonard (2009), 'Manager race and the race of new hires,' Journal of Labor Economics, 27(4), 589-631.
37. Greiner, L. E. (1972), 'Evolution and revolution as organizations grow,' Harvard Business Review, 50(4), 37-46.
38. Götzfried, A. (2004), 'European employment increasing in services and knowledgeintensive services,' Statistics in Focus: Science and Technology 10. Eurostat, Luxembourg: Eurostat, KS-NS-04-010-ENN.
39. Halabisky, D., E. Dreessen and C. Parsley (2006), 'Growth in firms in Canada, 1985-1999,' Journal of Small Business and Entrepreneurship, 19(3), 255-268.
40. Hall, B. H. and J. Lerner (2010), 'The financing of R&D and innovation.' in B. H. Hall and N. Rosenberg (eds), Handbook of the Economics of Innovation. Elsevier-North Holland: Amsterdam, The Netherlands and; London, UK.
41. Henrekson, M. (2005), 'Entrepreneurship: A weak link in the welfare state,' Industrial and Corporate Change, 14(3), 437-467.
42. Henrekson, M. and D. Johansson (2009), 'Competencies and institutions fostering highgrowth firms,' Foundation and Trends in Entrepreneurship, 5(1), 1-80.
43. Henrekson, M. and D. Johansson (2010), 'Gazelles as job contributors: a survey and interpretation of the evidence,' Small Business Economics, 35(2), 227-244.
44. Henrekson, M. and D. Johansson (2011), 'Firm growth, institutions and structural transformation.' in M. Fritsch (eds), Handbook of Entrepreneurship and Regional Development. Edward Elgar: Cheltenham, UK.
45. Holzer, H. and D. Neumar (1996), 'Are affirmative action hires less qualified? Evidence from employer-employee data on new hires.' NBER Working Paper No. 5603.
46. Hölzl, W. (2009), 'Is the R&D behaviour of fast-growing SMEs different? Evidence from CISIII data for 16 countries,' Small Business Economics, 33, 59-75.
47. Hölzl, W. (2014), 'Persistence, survival and growth: a closer look at 20 years of fast-growing firms in Austria,' Industrial and Corporate Change, 23(1), Forthcoming.
48. Kazanjian, R. K. and R. Drazin (1989), 'An empirical test of stage of growth progression model,' Management Science, 35(12), 1489-1503.
49. Kremer, M. (1993), 'The O-ring theory of economic development,' Quarterly Journal of Economics, 108(3), 551-576.
50. Lepak, D. and S. Snell (1999), 'The human resource architecture: toward a theory of human capital allocation and development,' Academy of Management Review, 24(1), 31-48.
51. Littunen, H. and T. Tohmo (2003), 'The high growth in new metal-based manufacturing and business service firms in Finland,' Small Business Economics, 21(2), 187-200.
52. Lockett, A. (2005), 'Edith Penrose's legacy to the resource-based view,' Managerial and Decision Economics, 26(2), 83-98.
53. Lockett, A. and S. Thompson (2004), 'Edith Penrose's contributions to the resource-based view: an alternative perspective,' Journal of Management Studies, 41(1), 193-203.
54. Mahoney, J. T. (2005), Economic foundations of strategy. Sage Publications: Thousand Oaks, CA.
55. Martinsson, G. (2010), 'Equity financing and innovation: is Europe different from the United States?' Journal of Banking and Finance, 34(6), 1215-1224.
56. McKelvie, A. and J. Wiklund (2010), 'Advancing firm growth research: a focus on growth mode instead of growth rate,' Entrepreneurship Theory and Practice, 34(2), 261-288.
57. Miller, D. and P. H. Friesen (1984), 'A longitudinal study of the corporate life cycle,' Management Science, 30(10), 1161-1183.
58. Mortensen, D. T. and C. A. Pissarides (1999), 'New developments in models of search in the labor market.' in C. Ashenfelter and D. Card (eds), Handbook of Labor Economics. Elsevier North-Holland: Amsterdam, The Netherlands, pp. 2567-2627.
59. Myers, S. C. (2001), 'Capital structure,' Journal of Economic Perspectives, 15(2), 81-102.
60. Nelson, R. R. and S. G. Winter (1982), An Evolutionary Theory of Economic Change. Belknap Press of Harvard University Press: Cambridge MA.
61. Nyström, K. (2011), 'Labor mobility and entrepreneurship: who do new firms employ?.' Working Paper no. 250, CESIS Electronic Working Papers Series. the Royal Institute of Technology: Stockholm, Sweden.
62. Oi, W. and T. L. Idson (1999), 'Firm Size and Wages.' in O. Ashenfelter and D. Card (eds), Handbook of Labor Economics, Vol. 3, Elsevier: Amsterdam, The Netherlands, pp. 2165-2214.
63. Penrose, E. (1959), The Theory of the Growth of the Firm. Basil Blackwell: Oxford, UK.
64. Rajan, R. G. and L. Zingales (2001), 'The firm as a dedicated hierarchy: a theory of the origins and growth of firms,' Quarterly Journal of Economics, 116(3), 805-851.
65. Roberts, J. (2004), The Modern Firm: Organizational Design for Performance and Growth. Oxford University Press: Oxford, UK.
66. Roberts, P. W., S. Klepper and S. Hayward (2011), 'Founder backgrounds and the evolution of firm size,' Industrial and Corporate Change, 20(6), 1515-1538.
67. Santarelli, E. and M. Vivarelli (2007), 'Entrepreneurship and the process of firms' entry, survival and growth,' Industrial and Corporate Change, 16(3), 455-488.
68. Schreyer, P. (2000), 'High-Growth Firms and Employment.' OECD Science, Technology and Industry Working Papers, No. 2000/03.
69. Shepherd, D. and J. Wiklund (2009), 'Are we comparing apples with apples or apples with oranges?: Appropriateness of knowledge accumulation across growth studies,' Entrepreneurship Theory and Practice, 33(1), 105-123.
70. Skedinger, P. (2010), Employment Protection Legislation: Evolution, Effects, Winners and Losers. Edward Elgar: Cheltenham, UK; Northampton, MA.
71. Statistics Sweden (2002), Arbetskraftsinvandring-en lösning pa° försörjningsbördan?. Demografiska rapporter 2002:6 [Migrant workers-a solution to the aging population dilemma?]. www.scb.se/statistik/BE/BE0701/2000I02/BE51ST0206.pdf.
72. Statistics Sweden (2010), Integration-ett regionalt perspektiv [Integration-a regional perspective]. www.scb.se/statistik/_publikationer/LE0105_2010A01_BR_BE57BR1001.pdf.
73. Stuart, T. E. (2000), 'Interorganizational alliances and the performance of firms: a study of growth and innovation rates in a high-technology industry,' Strategic Management Journal, 21(8), 791-811.
74. Wennberg, K. (2005), 'Entrepreneurship research through longitudinal databases: measurement and design issues,' New England Journal of Entrepreneurship, 8, 9-18.
75. Wennberg, K. (2009), 'Knowledge combinations and the survival of financial service ventures,' Journal of Evolutionary Economics, 19(2), 259-276.
76. Wennberg, K., J. Wiklund, D. R. DeTienne and M. S. Cardon (2010), 'Reconceptualizing entrepreneurial exit: divergent exit routes and their drivers,' Journal of Business Venturing, 25, 361-375.
77. Wernerfelt, B. (1984), 'A resource based view of the firm,' Strategic Management Journal, 5(2), 171-180.
78. Witt, U. (2000), 'Changing cognitive frames-changing organizational forms: an entrepreneurial theory of organizational development,' Industrial and Corporate Change, 9(4), 733-755.