Davidsson, Per; Steffens, Paul R.; Fitzsimmons, Jason R. - 2007
firms which grow without first securing high levels of profitability tend to be less successful compared to firms that first … secure high profitability at low growth. Empirical tests using two large, longitudinal data sets confirm that the profitable … low growth firms are both more likely to reach the desirable state of high growth and high profitability and have a …