Lockett, Andy; Wiklund, Johan; Davidsson, Per; Girma, … - In: Journal of Management Studies 48 (2011) 1, pp. 48-74
Edith Penrose's theory of firm growth postulates that a firm's current growth rate will be influenced by the adjustment costs of, and changes to a firm's productive opportunity set arising from, previous growth. Although she explicitly considered the effect of previous organic growth on current...