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It is frequently argued that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are considered more innovative and therefore potential fast-growers. This argument relies on the assumption that the association among high-tech status, innovativeness...
Persistent link: https://www.econbiz.de/10011211884
This essay argues that the economic contribution of certain firms – be they small, young or rapidly growing – has to be understood in a broader context of creative destruction. Growth of some firms requires contraction and exit of some other firms to free up resources that can be reallocated...
Persistent link: https://www.econbiz.de/10008520887
rapidly growing firms – so-called Gazelles – that are not necessarily small and young. Gazelles are found to be outstanding … job creators. They create all or a large share of new net jobs. On average, Gazelles are younger and smaller than other … firms, but it is young age more than small size that is associated with rapid growth. Gazelles also seem to be …
Persistent link: https://www.econbiz.de/10005645364
High-growth firms (HGFs) are critical for net job creation and economic growth. We analyze HGFs using the theory of competence blocs, linking firm growth to property rights and the interaction of complementary expertise. Specifically, we discuss how the institutional framework affects the...
Persistent link: https://www.econbiz.de/10005645380
Public policy affects the prevalence and performance of both productive and high-impact entrepreneurship. High-impact entrepreneurship prospers when knowledge is successfully generated and exploited in the economy. This process depends on complementary key ac-tors who use their competencies in...
Persistent link: https://www.econbiz.de/10008605950
Public policy is currently shifting from SME policy towards entrepreneurship policy, which supports entrepreneurship without directing attention to quantitative goals and specific firms or employment groups. The institutional framework set by public policy affects the prevalence and performance...
Persistent link: https://www.econbiz.de/10008677920