Gazelles and industry growth: a study of young high-growth firms in The Netherlands
This article examines to what extent and how the presence of gazelles, young high-impact firms, is related to the growth of industries over time. For this purpose, we analyze gazelles in The Netherlands over a 12-year period, annually from 1997 until 2008, and relate them to the dynamics of industry employment. We use a panel vector autoregressive model to explore the relationship between the prevalence of gazelles in an industry and industry employment growth, in an economy-wide dataset including 43 two-digit industries. An increase in the prevalence of gazelles in an industry appears to have... Mehr ...
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Dokumenttyp: | TEXT |
Erscheinungsdatum: | 2014 |
Verlag/Hrsg.: |
Oxford University Press
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Schlagwörter: | Special Section: High-Growth Firms |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-27195994 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | http://icc.oxfordjournals.org/cgi/content/short/23/1/145 |
This article examines to what extent and how the presence of gazelles, young high-impact firms, is related to the growth of industries over time. For this purpose, we analyze gazelles in The Netherlands over a 12-year period, annually from 1997 until 2008, and relate them to the dynamics of industry employment. We use a panel vector autoregressive model to explore the relationship between the prevalence of gazelles in an industry and industry employment growth, in an economy-wide dataset including 43 two-digit industries. An increase in the prevalence of gazelles in an industry appears to have a positive effect on subsequent industry growth. We do not find evidence of an inverse causal relationship: there are no long-run positive effects of increases in industry growth on the prevalence of gazelles. There is also no relationship between overrepresentation of gazelles and subsequent industry growth.