Advancing firm growth research: a focus on growth mode instead of growth rate

McKelvie, Alexander; Wiklund, Johan

doi:10.4337/9780857933614.00014

Cited by 77 publications

(142 citation statements)

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“…As noted, a key feature of the high growth entrepreneurship literature, and firm growth research more generally, has been a strong focus on the questions of 'how many' and 'how much', rather than questions of 'how' and 'why' firms achieve growth (Henrekson and Johansson 2010;Leitch et al 2010;McKelvie and Wiklund 2010). The consequence of this focus on measurement is that "our current understanding remains limited" (Dobbs and Hamilton 2007, 315).…”

Section: Recent High Growth Firm Literaturementioning

confidence: 99%

“…The growing evidence base suggests that this earlier picture of rapid growth as organic and internally generated is somewhat reductionist (McKelvie and Wiklund 2010;Brown and Mawson 2013). Given the heterodox resource needs of most rapidly growing firms, be they technology-related, people-related or finance-related, it comes as little surprise that most firms will seek these resources outside the boundaries of the firm.…”

Section: Myth #6 Hgfs Grow Organicallymentioning

confidence: 99%

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Myth-busting and entrepreneurship policy: the case of high growth firms

Brown

Mawson

Mason

2017

Entrepreneurship & Regional Development

147

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Promoting high growth firms (HGFs) has become a strong fixation within enterprise policy. This is a debate article seeking to examine and challenge the mythology perpetuated by policy makers and embedded within high growth entrepreneurship policy frameworks. Within the article we argue that a number of distinctive 'myths' have become deeply embedded within these policy frameworks. Such myths have been built on misconceived preconceptions of HGFs, which has resulted in policy-makers taking a myopic view of these firms. A key aim of the paper is to highlight how false perceptions of HGFs translate into inappropriate policy interventions. The paper challenges some of the most commonly held myths about these firms (that they are predominantly young, small, high-tech, VC-backed, university spin-outs, who grow in an orderly organic fashion, operating similarly irrespective of location) and identifies a clear mismatch between how policy makers perceive HGFs and what they actually look like in reality. Suggestions for the design of future policy approaches are forwarded.

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Section: Recent High Growth Firm Literaturementioning

confidence: 99%

Section: Myth #6 Hgfs Grow Organicallymentioning

confidence: 99%

Myth-busting and entrepreneurship policy: the case of high growth firms

Brown

Mawson

Mason

2017

Entrepreneurship & Regional Development

147

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“…Size of the firm also has an influence on the choice to grow organically or through acquisition. Large firms primarily grow by acquiring others whereas small firms grow organically (McKelvie and Wiklund, 2010).…”

Section: Strategies Of Firm Growthsmentioning

confidence: 99%

Understanding the determinants of firm growth in young REITs

Gopinath

Quaranta²,

Wyatt³

et al. 2012

Proceedings of the 19th Annual European Real Estate Society Conference - Edinburgh, Scotland

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The main objective of this study is to investigate the determinants of firm growth in young REITs with the view that REITs with its unique operating conditions may have different implications for new venture growth. This study aims to (a) document growth characteristics of REITs, (b) empirically examine different growth determinants of REITs, (c) explore different growth strategies adopted by REITs, and (d) investigate the dual relationship between growth and profitability in REITs. We use GMM-system estimator to test a dynamic panel data model of firm growth that incorporates different influencers of growth in REITs. Using data on 148 US equity REITs that had its IPO during the period 1993-2005, we find that REIT growth is inversely proportional to REIT size, age and leverage and directly related to cash flow and insider ownership. We also find positive persistency in growth rates in young REITs. But, sustained growth among REITs beyond five years is rare. Also, new REITs that experience high growth in its early years are more likely to survive longer and REITs failure rate declines with size and age. Finally, we find a small positive influence of profit rates on subsequent growth and a positive and significant influence of growth on profits.

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“…Les études consacrées à la croissance des firmes sont désor-mais légion, ainsi qu'en témoignent des enquêtes récentes et travaux de synthèse (Davidsson et Wiklund, 2000 ;Coad, 2007 ;MacPherson et Holt, 2007 ;Shepherd et Wiklund, 2009 ;McKelvie et Wiklund, 2010 ;Janssen, 2011 ;Wright et Stigliani, 2013 ;Davidsson et Wiklund, 2013). Les travaux se sont ainsi intéressés aux déterminants, aux processus et aux conséquences de la croissance (Davidsson, Achtenhagen et Naldi, 2005 ;Gilbert, McDougall et Audretsh, 2006 ;Janssen, 2011), de même qu'à la diversité des trajectoires de croissance (Delmar, Davidsson et Gartner, 2003) ou à l'analyse spécifique des firmes à forte croissance (Chanut-Guieu et Guieu, 2011).…”

Section: Introductionunclassified

“…Cependant, si les études empiriques se sont multipliées, des interrogations demeurent quant aux progrès réels des connaissances, et au développement de cadres théoriques robustes (Coad, 2007 ;Shepherd et Wiklund, 2009 ;McKelvie et Wiklund, 2010).…”

Section: Introductionunclassified