Change search
ReferencesLink to record
Permanent link

Direct link
Are High-Growth Firms One-Hit Wonders?: Evidence from Sweden
KTH, School of Industrial Engineering and Management (ITM), Industrial Economics and Management (Dept.), Economics (Closed (20130101). The Ratio Institute, Sweden.
2015 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 44, no 2, 361-383 p.Article in journal (Refereed) Published
Abstract [en]

Most firms do not grow, and a small number of high-growth firms seem to create most new jobs. These firms have therefore received increasing attention among policymakers. The question is whether high-growth tends to persist? We investigate this question using data on 432,689 observa-ions in Sweden during 1998-2008. We find that high-growth firms had declining growth rates in the previous 3-year period, and their probability of repeating high growth rates was very low. HGFs are essentially one-hit wonders, and it is thus doubtful whether policymakers can improve economic outcomes by targeting them.

Place, publisher, year, edition, pages
2015. Vol. 44, no 2, 361-383 p.
Keyword [en]
Gazelles, High-growth firms, Growth persistence, Autocorrelation, Transition probabilities
National Category
Economics and Business
URN: urn:nbn:se:kth:diva-118330DOI: 10.1007/s11187-014-9599-8ISI: 000348929300008OAI: diva2:605656

QC 20130215. QC 20140312. Updated from manuscript to article in journal.

Available from: 2013-02-14 Created: 2013-02-14 Last updated: 2015-03-12Bibliographically approved
In thesis
1. Firm Dynamics: The Size and Growth Distribution of Firms
Open this publication in new window or tab >>Firm Dynamics: The Size and Growth Distribution of Firms
2013 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This thesis is about firm dynamics, and relates to the size and growth-rate distribution of firms. As such, it consists of an introductory and four separate chapters. The first chapter concerns the size distribution of firms, the two subsequent chapters deal more specically with high-growth firms (HGFs), and the last chapter covers a related topic in distributional estimation theory. The first three chapters are empirically oriented, whereas the fourth chapter develops a statistical concept.

Place, publisher, year, edition, pages
Stockholm: KTH Royal Institute of Technology, 2013. 44 p.
Trita-IEO, 2013:2
Firm size distribution, High-growth firms, Gazelles Firm growth- rate distribution
National Category
Economics and Business Economics
urn:nbn:se:kth:diva-118333 (URN)978-91-7501-642-9 (ISBN)
Public defence
2013-03-07, F3, Lindstedv 30, KTH, Stockholm, 10:00 (English)

QC 20130215

Available from: 2013-02-15 Created: 2013-02-14 Last updated: 2013-04-12Bibliographically approved

Open Access in DiVA

No full text

Other links

Publisher's full text

Search in DiVA

By author/editor
Halvarsson, Daniel
By organisation
Economics (Closed (20130101)
In the same journal
Small Business Economics
Economics and Business

Search outside of DiVA

GoogleGoogle ScholarTotal: 328 downloads
The number of downloads is the sum of all downloads of full texts. It may include eg previous versions that are now no longer available

Altmetric score

Total: 322 hits
ReferencesLink to record
Permanent link

Direct link