What Drives High Growth? Characteristics of Australian Firms

Using firm‐level data, we analyse the patterns, innovation characteristics and determinants of turnover high‐growth firms (HGFs) in Australia. We find most HGFs do not stay in the high‐growth phase for long, and following the Global Financial Crisis the proportion of HGFs has declined. For HGFs, the...

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Published in:The Economic record 2021-09, Vol.97 (318), p.350-364
Main Authors: Majeed, Omer, Balaguer, Antonio, Hansell, David, Hendrickson, Luke, Latcham, Abasi, Satherley, Tessa
Format: Article
Language:English
Subjects:
Companies
Economic crisis
Innovations
Marketing
R&D
Research & development
Return on investment
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description Using firm‐level data, we analyse the patterns, innovation characteristics and determinants of turnover high‐growth firms (HGFs) in Australia. We find most HGFs do not stay in the high‐growth phase for long, and following the Global Financial Crisis the proportion of HGFs has declined. For HGFs, the results suggest that innovation in goods and services has a much greater impact on turnover growth than for the average firm. For all firms, innovations in goods and services and marketing, and business focus on innovation contribute to turnover growth. Finally, HGFs generate greater returns on investment in research and development than slower growing firms.
doi_str_mv 10.1111/1475-4932.12612
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source EconLit s plnými texty; International Bibliography of the Social Sciences (IBSS); Business Source Ultimate; Wiley-Blackwell Read & Publish Collection
subjects Companies
Economic crisis
Innovations
Marketing
R&D
Research & development
Return on investment
title What Drives High Growth? Characteristics of Australian Firms
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