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Persistent high-growth firms in China’s manufacturing

Small business economics, 2019-03, Vol.52 (3), p.573-594 [Peer Reviewed Journal]

Springer Science+Business Media, LLC, part of Springer Nature 2018 ;Small Business Economics is a copyright of Springer, (2018). All Rights Reserved. ;ISSN: 0921-898X ;EISSN: 1573-0913 ;DOI: 10.1007/s11187-017-9973-4

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  • Title:
    Persistent high-growth firms in China’s manufacturing
  • Author: Moschella, Daniele ; Tamagni, Federico ; Yu, Xiaodan
  • Subjects: Business and Management ; Capital investments ; Companies ; Corporate profits ; Employment ; Entrepreneurship ; Expansion ; Financial performance ; Industrial Organization ; Innovations ; Management ; Manufacturing ; Microeconomics ; Productivity ; Profits ; Sales
  • Is Part Of: Small business economics, 2019-03, Vol.52 (3), p.573-594
  • Description: This article explores the association between persistence of high-growth and crucial dimensions of firm structure and performance (productivity, profits, investment patterns, innovation, and financial structures) to shed light on what makes a persistent high-growth firm. We employ a multidimensional definition of a high-growth firm that simultaneously accounts for growth of sales and employment, and design an empirical strategy that seeks to capture the “long-run” ability of high-growth firms to replicate their high-growth performance over time. Exploiting a large panel covering the period of the China’s miracle, we find that none of the considered firm attributes stands out as distinctive feature of persistent highgrowth. This finding casts doubts on the long-run contribution of high-growth firms, in turn challenging the long-run effectiveness of policies supporting the creation and expansion of such firms.
  • Publisher: New York: Springer Science + Business Media
  • Language: English
  • Identifier: ISSN: 0921-898X
    EISSN: 1573-0913
    DOI: 10.1007/s11187-017-9973-4
  • Source: ProQuest Central

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