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Economic dynamism: essays on firm entry and firm growth
Örebro University, Orebro University School of Business, Örebro University, Sweden.
2014 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

The topic of this thesis is economic dynamism. The five articles contribute to the literature on firm entry and firm growth. Studies are based on a dataset covering all Swedish limited liability firms between 1997 and 2010.

The first article investigates conditions for firm entry in Sweden, distinguishing regular entrants from entrants that survive for at least two years, modelling the firm entry decision using count data models. While high income and a well-educated population had a positive effect, the effect was more important for surviving entrants. The second article uses a similar method, but focuses on wholesale industries and distinguishes between regular entry and in migration of firms, i.e. when an incumbent firm relocates its operations. Access to a university, many educated workers and low local taxes had positive effects. Better access to infrastructure had a strong positive effect on entrants, but it was smaller for in-migrating firms. The third article investigates if the industry context matters for whether Gibrat’s law holds, i.e. whether firm growth is independent of firm size. The law is found more likely to be rejected in industries with a high minimum efficient scale and a large number of firms located in metropolitan areas, but more likely to hold in industries with high market concentration and more group ownership. The fourth and fifth article contribute to the high-growth firms (HGFs) literature. In the fourth article it is examined whether the way HGFs are defined matters for the policy implications. It is found that the economic contributions of HGFs differ significantly depending on definition. Young firms are however more likely to be HGFs irrespective of definition. The fifth article considers the frequent argument that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are thought more likely to become HGFs. We examine this assumption by studying the industry distribution of HGFs. Results indicate that industries with high R&D intensity, ceteris paribus, can be expected to have a lower share of HGFs than can industries with lower R&D intensity. By contrast, we find that HGFs are overrepresented in service industries with a high share of human capital.

Place, publisher, year, edition, pages
Örebro: Örebro university , 2014. , 65 p.
Series
Örebro Studies in Economics, ISSN 1651-8896 ; 25
Keyword [en]
entrepreneurship, innovation, firm entry, regional economics, Gibrat's law, firm growth, firm size, gazelles, high-growth firms, highimpact firms
National Category
Economics
Research subject
Economics
Identifiers
URN: urn:nbn:se:oru:diva-34804ISBN: 978-91-7529-030-0 (print)OAI: oai:DiVA.org:oru-34804DiVA: diva2:713260
Public defence
2014-09-19, Forumhuset, Biografen, Örebro universitet, Fakultetsgatan 1, Örebro, 13:15 (English)
Opponent
Supervisors
Available from: 2014-04-22 Created: 2014-04-22 Last updated: 2016-09-22Bibliographically approved
List of papers
1. What determines entry?: evicence from Sweden
Open this publication in new window or tab >>What determines entry?: evicence from Sweden
(English)Manuscript (preprint) (Other academic)
Abstract [en]

See separate jpg-file below

National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-35284 (URN)
Available from: 2014-06-10 Created: 2014-06-10 Last updated: 2016-11-21Bibliographically approved
2. Start-ups and firm in-migration: Evidence from the Swedish wholesale and trade industry
Open this publication in new window or tab >>Start-ups and firm in-migration: Evidence from the Swedish wholesale and trade industry
2013 (English)In: The annals of regional science, ISSN 0570-1864, E-ISSN 1432-0592, Vol. 51, no 2, 479-494 p.Article in journal (Refereed) Published
Abstract [en]

We use a data set covering 13,471 Swedish limited liability firms in theSwedish wholesale industries during 2000–2004 to ascertain the determinants of newstart-ups and of in-migration of firms. Access to a large harbor, international airport orlarge railroad classification yard in the municipality nearly triples the number of start-ups and increases the expected number of in-migrating firms with 53%. The presenceof a university, many educated workers and low local taxes are also associated withmore start-ups and firm in-migration.

Place, publisher, year, edition, pages
Springer, 2013
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-33106 (URN)
Available from: 2014-01-15 Created: 2014-01-15 Last updated: 2014-06-10Bibliographically approved
3. When is Gibrats's law a law?
Open this publication in new window or tab >>When is Gibrats's law a law?
2013 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 41, no 1, 133-147 p.Article in journal (Refereed) Published
Abstract [en]

The purpose of this article is to investigate if the industry context matters for whether Gibrat’s law is rejected or not using a dataset that consists of all limited firms in five-digit NACE-industries in Sweden during 1998–2004. The results reject Gibrat’s law on an aggregate level, since small firms grow faster than large firms. However, Gibrat’s law is confirmed about as often as it is rejected when industry-specific regressions are estimated. It is also found that the industry context—e.g., minimum efficient scale, market concentration rate, and number of young firms in the industry—matters for whether Gibrat’s law is rejected or not.

Place, publisher, year, edition, pages
Springer, 2013
Keyword
Firm growth; Firm size; Job creation; Small firms
National Category
Economics
Research subject
Economics; Economics
Identifiers
urn:nbn:se:oru:diva-33105 (URN)
Available from: 2014-01-15 Created: 2014-01-15 Last updated: 2014-06-10Bibliographically approved
4. The economic contribution of high-growth firms: do policy implications depend on the choice of growth indicator?
Open this publication in new window or tab >>The economic contribution of high-growth firms: do policy implications depend on the choice of growth indicator?
2014 (English)In: Journal of Industry, Competition and Trade, ISSN 1566-1679, E-ISSN 1573-7012, Vol. 14, no 3, 337-365 p.Article in journal (Refereed) Published
Abstract [en]

Prior studies have defined high-growth firms (HGFs) in terms of growth in firm employment or firm sales, and primarily analyzed their contribution to overall employment growth. In this paper we define HGFs using the commonly applied growth indicators (employment and sales), but also add definitions based on growth in value added and productivity. Our results indicate that HGFs in terms of employment are not the same firms as HGFs in terms of productivity, and that their economic contributions differ significantly. Economic policy promoting fast growth in employment may therefore come at the cost of reduced productivity growth. Although HGFs of different definitions may not be the same firms, young firms are more likely to be HGFs irrespective of definition. This suggests that economic policy should focus on the conditions for new firm formation and early growth of firms, rather than target a particular type of HGFs.

Keyword
entrepreneurship . gazelles . firm growth . high-impact firms
National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-35288 (URN)10.1007/s10842-013-0168-7 (DOI)2-s2.0-84905592814 (Scopus ID)
Available from: 2014-06-10 Created: 2014-06-10 Last updated: 2016-09-22Bibliographically approved
5. Are high growth firms overrepresented in tech industries?
Open this publication in new window or tab >>Are high growth firms overrepresented in tech industries?
(English)Manuscript (preprint) (Other academic)
Abstract [en]

See jpg-file below

National Category
Economics
Research subject
Economics
Identifiers
urn:nbn:se:oru:diva-35289 (URN)
Available from: 2014-06-10 Created: 2014-06-10 Last updated: 2016-12-02Bibliographically approved

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