High-growth young firms in Italy

Andrea Cintolesi (), Edoardo Frattola (), Rosalia Greco (), Francesca Leombroni (), Andrea Linarello, Andrea Locatelli (), Sara Nesi () and Simone Zuccolalà ()
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Andrea Cintolesi: Bank of Italy
Edoardo Frattola: Bank of Italy
Rosalia Greco: Bank of Italy
Francesca Leombroni: Bank of Italy
Andrea Locatelli: Bank of Italy
Sara Nesi: Bank of Italy
Simone ZuccolalÃ: Bank of Italy

No 889, Questioni di Economia e Finanza (Occasional Papers) from Bank of Italy, Economic Research and International Relations Area

Abstract: High-growth firms (HGFs) are crucial for job creation and economic growth. In this paper, we study their characteristics in Italy using unique firm-level data. HGFs, defined as the top 10 per cent of the distribution of new businesses' three-year revenue growth rate, generate 68 per cent of their cohorts' employment growth and 78 per cent of revenue growth. HGFs are more prevalent in digital-intensive sectors and geographically concentrated in specific regions. They are intangible-intensive, invest more and are more innovative, in the sense that they file more patents and are more likely to be innovative startups. HGF founders are younger, more mobile (especially from South to North), and more likely to have prior entrepreneurial experience. These findings inform policies to promote HGF creation and address regional disparities.

Keywords: high-growth firms; entrepreneurship; innovation; digital intensity; internal mobility (search for similar items in EconPapers)
JEL-codes: J61 L26 M13 O31 (search for similar items in EconPapers)
Date: 2024-10
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Persistent link: https://EconPapers.repec.org/RePEc:bdi:opques:qef_889_24

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