NEW FIRM GROWTH AND DEVELOPMENT: A REPLICATION AND EXTENSION OF REYNOLDS’ RESEARCH

J.B. Arbaugh and Donald L. Sexton
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J.B. Arbaugh: The University of Wisconsin-Oshkosh, USA
Donald L. Sexton: The Kauffman Foundation, USA

Journal of Enterprising Culture (JEC), 1996, vol. 04, issue 01, 19-36

Abstract: A study of 323 new ventures in Ohio supports Reynolds’ findings of an earlier study in Pennsylvania, namely: firms tend to follow one of four different growth patterns, only one of which includes significant growth; most firms do not experience growth beyond their first year’s sales; and there are no significant correlations between age of the firm and annual sales. The results support a new model of firm growth which empirically invalidates the metamorphic growth model. The study concludes by identifying significant differences in operational and strategic emphases between the development patterns.

Date: 1996
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DOI: 10.1142/S0218495896000034

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