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Are High-Growth Firms One-Hit Wonders?: Evidence from Sweden
HUI Research, Stockholm, Sweden; Department of Economics, Dalarna University, Borlänge, Sweden.
Division of Economics, The Royal Institute of Technology, Stockholm, Sweden; The Ratio Institute, Stockholm, Sweden.
2015 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 44, no 2, p. 361-383Article in journal (Refereed) Published
Abstract [en]

Most firms do not grow, and a small number of high-growth firms seem to create most new jobs. These firms have therefore received increasing attention among policymakers. The question is whether high-growth tends to persist? We investigate this question using data on 432,689 observa-ions in Sweden during 1998-2008. We find that high-growth firms had declining growth rates in the previous 3-year period, and their probability of repeating high growth rates was very low. HGFs are essentially one-hit wonders, and it is thus doubtful whether policymakers can improve economic outcomes by targeting them.

Place, publisher, year, edition, pages
Springer, 2015. Vol. 44, no 2, p. 361-383
Keywords [en]
Gazelles, High-growth firms, Growth persistence, Autocorrelation, Transition probabilities
National Category
Economics and Business
Identifiers
URN: urn:nbn:se:oru:diva-76240DOI: 10.1007/s11187-014-9599-8ISI: 000348929300008Scopus ID: 2-s2.0-84938810860OAI: oai:DiVA.org:oru-76240DiVA, id: diva2:1350876
Available from: 2019-09-12 Created: 2019-09-12 Last updated: 2019-09-16Bibliographically approved

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Halvarsson, Daniel

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