Persistence, survival, and growth: a closer look at 20 years of fast-growing firms in Austria

Werner Hölzl

Industrial and Corporate Change, 2014, vol. 23, issue 1, 199-231

Abstract: This article studies the survival, persistence, and growth of fast-growing firms after their fast-growth period, using an extensive data set of Austrian firms. We use two definitions to identify fast-growing firms. High-growth firms (HGF) are firms with the highest growth rates, while high-Birch firms (HBF) are the firms that contribute most to job creation. Matching as nonparametric preprocessing is used to construct control groups consisting of firms that were similar in terms of size, age, and industry affiliation to the fast-growing firms. We run survival, persistence, and growth regressions on the balanced data sets. The results point to differences between the two definitions but also show similarities in outcomes. We find that HBFs have a substantially larger probability of repeating their fast-growth event than HGFs. For survival we find small differences between the definitions. With regard to firm growth, we find that growth after the high-growth period is rather modest for both definitions when compared with the growth rates achieved during the fast-growth episode. However, both HBFs and HGFs have much higher growth rates than control firms. Copyright 2014 The Author 2013. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Date: 2014
References: Add references at CitEc
Citations: View citations in EconPapers (38)

Downloads: (external link)
http://hdl.handle.net/10.1093/icc/dtt054 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:indcch:v:23:y:2014:i:1:p:199-231

Ordering information: This journal article can be ordered from
https://academic.oup.com/journals

Access Statistics for this article

Industrial and Corporate Change is currently edited by Josef Chytry

More articles in Industrial and Corporate Change from Oxford University Press and the Associazione ICC Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().