Employment and value-added contribution of Slovenian high-growth companies (gazelles)

Abstract

High-growth companies, gazelles, are responsible for stimulating economic growth and development through extreme growth rates (employment, income, assets, value-added etc.). Consequently, exploring highgrowth companies may offer valuable insights into promoting dynamic entrepreneurship in contemporary society. In this paper, we are examining high-growth companies and their socio-economic contribution through a company's size, because the size dimension is an important characteristic affecting the level of employment and making important contributions to employment growth. Based on the national ranking of the 500 fastest-growing companies, based on the income statement data (sales growth in the 5-year period), we compare the gazelles with the average of all Slovenian companies. The findings provide evidence of the gazelles' considerable contribution to employment and the creation of an added (new) value. Company growth can also be measured on the basis of other parameters and therefore, in one part of our analysis, we limit the use of the measures to the relative employment growth -the DaBeg index. The results have shown that the growth patterns among the companies are very heterogeneous and that innovative fast-growing companies make a valuable socio-economic contribution. As such, gazelles require effective supportive measures of government policies, aimed at encouraging and promoting growth-oriented entrepreneurship.

Stylised facts about Slovenian high-growth firms

“…The financial data on Slovenian firms is underutilised in research on HGFs. Research on Slovenian HGFs have so far mostly been based on just a subsample of HGFs and not on data for all firms, which has the potential for selection bias (Crnogaj & Sirec, 2014;Sirec & Mo cnik, 2013). The financial data on Slovenian firms has been used to investigate various topics (e.g., innovation and export).…”

Determinants of Nursing Staff Engagement in Nursing Care in Slovenia

“…This results in increased labor costs, greater difficulty in providing a level of quality nursing care due to high absenteeism among staff, significantly lower job engagement, and increased professional errors and negligence in the delivery of nursing care [19]. Disengaged employees experience job dissatisfaction and negativity, generate less added value, lower quality of care services, and higher rates of absenteeism [20]. This is because nursing staff in special social care institutions become disengaged in their work precisely because of those internal and external factors that do not support their professional development and job satisfaction [21], which leads to frequent complaints from care recipients and their relatives or guardians, which can result in high compensation payments [19].…”

“…They also represent a positive and energetic connection to work, have high energy levels, are more efficient, more productive, more motivated, more satisfied, and more committed to their patients [48]. They often experience more positive emotions, are in better health, and show better performance at work [20]. According to Vorina et al [49], committed nursing staff are energetic workers who work with passion and feel a deep connection to the healthcare facility where they are employed.…”

Who Persistently Creates Jobs? Absolute versus Relative High-Growth Firms

“…While there exists first empirical evidence on determinants of high-growth firms in Eastern Europe, (e.g. Cuaresma et al, 2014;Hoxha and Capelleras, 2010;Mateev and Anastasov, 2010;Mateev and Anastasov, 2011;Crnogaj and Sirec, 2014), the persistence of high growth over a longer period of time has not been studied in this context.…”