The topic of this thesis is economic dynamism. The five articles contribute to the literature on firm entry and firm growth. Studies are based on a dataset covering all Swedish limited liability firms between 1997 and 2010. The first article investigates conditions for firm entry in Sweden, distinguishing regular entrants from entrants that survive for at least two years, modelling the firm entry decision using count data models. While high income and a well-educated population had a positive effect, the effect was more important for surviving entrants. The second article uses a similar method, but focuses on wholesale industries and distinguishes between regular entry and in migration of firms, i.e. when an incumbent firm relocates its operations. Access to a university, many educated workers and low local taxes had positive effects. Better access to infrastructure had a strong positive effect on entrants, but it was smaller for in-migrating firms. The third article investigates if the industry context matters for whether Gibrat’s law holds, i.e. whether firm growth is independent of firm size. The law is found more likely to be rejected in industries with a high minimum efficient scale and a large number of firms located in metropolitan areas, but more likely to hold in industries with high market concentration and more group ownership. The fourth and fifth article contribute to the high-growth firms (HGFs) literature. In the fourth article it is examined whether the way HGFs are defined matters for the policy implications. It is found that the economic contributions of HGFs differ significantly depending on definition. Young firms are however more likely to be HGFs irrespective of definition. The fifth article considers the frequent argument that policymakers should target high-tech firms, i.e., firms with high R&D intensity, because such firms are thought more likely to become HGFs. We examine this assumption by studying the industry distribution of HGFs. Results indicate that industries with high R&D intensity, ceteris paribus, can be expected to have a lower share of HGFs than can industries with lower R&D intensity. By contrast, we find that HGFs are overrepresented in service industries with a high share of human capital.

This research explores a problem important to both management strategists and policy-makers: what makes some companies grow rapidly? This topic is important as high-growth companies create a disproportionally high percentage of new jobs. The literature frequently cites sustainable competitive advantage as an explanation for firm performance and growth. Companies can build competitive advantage through the accumulation and development of resources, strategic orientations and unique capabilities. More recently, researchers have looked outside the firm for explanations, concluding that inter-firm co-operative networks and alliances are also important sources of competitive advantage leading to firm growth. While there is an extensive body of literature on firm growth, few studies have specifically addressed the antecedents of rapid firm growth. Much of the available literature is descriptive, for example Birch’s (1987) study of gazelle firms or the OECD (2008) report on high-growth firms. There are however few theoretic models or empirical tests to explain the success of these firms. In response this research explains the occurrence of high-growth firms in terms of the resource- and knowledge-based view, dynamic capabilities, core competencies, and strategic orientation theories. Structural equation and growth mixture models were tested using data gathered from a survey administered to a cross-industry sample of Canadian businesses. The study found that high-growth forms were more likely to be innovators, as well as to have a combination of strong entrepreneurial and market orientations and the ability to manage their business networks. These findings highlight the importance to management of not only responding to market demands but leading the market with innovation and extending firm capabilities and reach through networking. In addition, this research indicates that institutional support for innovation, networking and market development would assist in developing high-growth firms in Canada.

This research explores a problem important to both management strategists and policy-makers: what makes some companies grow rapidly? This topic is important as high-growth companies create a disproportionally high percentage of new jobs. The literature frequently cites sustainable competitive advantage as an explanation for firm performance and growth. Companies can build competitive advantage through the accumulation and development of resources, strategic orientations and unique capabilities. More recently, researchers have looked outside the firm for explanations, concluding that inter-firm co-operative networks and alliances are also important sources of competitive advantage leading to firm growth. While there is an extensive body of literature on firm growth, few studies have specifically addressed the antecedents of rapid firm growth. Much of the available literature is descriptive, for example Birch’s (1987) study of gazelle firms or the OECD (2008) report on high-growth firms. There are however few theoretic models or empirical tests to explain the success of these firms. In response this research explains the occurrence of high-growth firms in terms of the resource- and knowledge-based view, dynamic capabilities, core competencies, and strategic orientation theories. Structural equation and growth mixture models were tested using data gathered from a survey administered to a cross-industry sample of Canadian businesses. The study found that high-growth forms were more likely to be innovators, as well as to have a combination of strong entrepreneurial and market orientations and the ability to manage their business networks. These findings highlight the importance to management of not only responding to market demands but leading the market with innovation and extending firm capabilities and reach through networking. In addition, this research indicates that institutional support for innovation, networking and market development would assist in developing high-growth firms in Canada.

Most entrepreneurs have families that highly influence their business­ activities. However, scholars have paid limited attention to how the family as a specific social context impacts entrepreneurial outcomes, such as new venture creation, firm growth, and exit from entrepreneurship­. This thesis investigates how the family influences such outcomes at different levels of analysis: the individual level, the firm level, and the regional level.  The theoretical framework is developed by integrating the theory­ of social embeddedness with literature on family business and entrepreneurship­. Empirical evidence is based on a unique multi-level­ Swedish database combining individual-, firm-, and regional-level data. By providing an in-depth understanding of whether the family influence pertains to the whole entrepreneurial process or only to particular entrepreneurial outcomes, this thesis contributes to a new understanding of the family’s role in entrepreneurship. / <p>Diss. Stockholm :  Stockholm School of Economics, 2014.</p>

L’intérêt accordé à l’entrepreneuriat féminin reflète l’ampleur du phénomène sans cesse croissant partout dans le monde. En effet, le potentiel entrepreneurial des femmes est manifeste et ce travail doctoral s’intéresse à ce potentiel dans le contexte camerounais. La littérature en entrepreneuriat féminin propose des travaux essentiellement axés sur l’émergence des entreprises alors que les écrits se focalisant sur le développement sont rares. Pourtant, malgré les difficultés d’accès aux ressources, des femmes entrepreneurs camerounaises ont réussi. Il semble alors à la fois utile et nécessaire de faire « voir » ces cas, avec la prudence qu’apporte le protocole scientifique de la méthode des cas. Notre travail vise donc à comprendre comment et pourquoi les femmes entrepreneurs camerounaises passent d’un « petit business » à un business plus ambitieux. A ce propos, des études approfondies et comparatives de trois entreprises sélectionnées par homogénéisation dans le secteur des services ont été menées. Le guide méthodologique ainsi fourni est étayé par le concept de Business Model pour mettre au jour les cas à analyser et par la théorie des conventions pour les comprendre. / The focus on female entrepreneurship reflects the growing magnitude of this phenomenon worldwide. Indeed, the entrepreneurial potential of women is obvious and this doctorate thesis focuses on this potential in the Cameroonian context. The literature on female entrepreneurship offers works mainly focused on the emergence of firms while writings dealing with development are rare. Yet, despite difficulties linked to access to resources, women entrepreneurs in Cameroon have succeeded. It has appeared both useful and necessary to “exhibit” these cases with the caution ensured by the scientific protocol of the “case study” method. So, our work aims at understanding how and why Cameroonian women entrepreneurs succeed in moving from a “small business” to a more ambitious business. In this regard, in-depth and comparative studies of three enterprises selected by homogenization in the service sector were conducted. The methodological framework thus chosen is supported by the concept of Business Model for the presentation of cases under analysis and by the convention theory for their understanding.

While it is now widely accepted that new firms growth is essential for the foundation of economic dynamism, knowledge about this early growth is still scattered. Indeed, very little is known about how new firms grow and develop over time. What types of distinct growth patterns do those firms exhibit? How do these growth patterns and corresponding firms differ from each others in terms of development and strategic choices? To better understand the process of new firm growth, recent entrepreneurship research stresses that there is a strong need for a new conceptual scheme and new longitudinal research methods. This is actually one of the main entrepreneurship research challenges. In this context, our aim is to provide new insights regarding the process of new firm growth. In this research, we develop and test an original methodology allowing the empirical taxonomy of early growth trajectories across multiple sectors, integrating both the multidimensional and dynamic aspects of growth. Our approach applies principal component and cluster analysis to a large sample of firms, using financial and demographic data collected over time to identify in a systematic way distinct growth stages. We use then sequence analysis and a Markov chain approach to extract and compare the trajectories of individual firms over time. This allows the identification of a limited number of typical growth trajectories, which are adopted by the majority of firms in our sample. Finally, internal replication is performed to validate the growth trajectories identified and bivariate analysis is used to examine the link between the identified growth trajectories and the demographic characteristics of the corresponding firms. We have applied our methodology to a sample of 741 Belgian firms created between 1992 and 2002 and which have grown above micro-firm size. Our approach allowed identifying four distinct growth stages and seven typical growth trajectories, which remain valid for the six first years of the majority of the firms in our sample. This taxonomy of early growth trajectories is consistent with individual patterns already identified in the literature and appears not to be sector-dependent. The major contribution of this doctoral thesis is that, based on empirical evidence, early growth appears to be neither a continuous (or life cycle based) nor idiosyncratic (or completely random) process. It can be adequately described through a limited number of typical growth trajectories, valid across sectors. Thus, our research brings insight regarding how new firm evolve over time and therefore contributes to our understanding and appreciation of the heterogeneity of the growth trajectory phenomenon. Next, our research provides also an original methodological approach allowing the systematic analysis of growth trajectories, which deals with key limitations identified in the literature regarding the need for a multidimensional and dynamic study of growth across multiple sectors. Our findings indicate that this novel systematic approach is useful for taxonomy development and therefore contributes to reduce the gap between the complexity of new firm growth process and the standard approaches often mobilised to deal with it. Finally, while our findings provide empirical and methodological support in early development of new firms study, they also provide many implications to entrepreneurial research and practices. Further researches are needed to improve our understanding of the dynamic growth process of new ventures. It should explore which endogenous and exogenous factors might explain why a majority of start-ups follow the seven identified typical growth trajectories. It could be also highly relevant to refine our taxonomy by examining the relationship between innovative and technological sources and growth trajectories, both in high and low technological industries. Finally, we should test the accuracy of the proposed taxonomy across countries as well as beyond the early stage of new firm development.

在當今世界經濟快速發展的條件下，企業在面對多變的競爭環境時，需要及時調整、更新企業能力，以維持企業成長。本文在總結前人的研究結果之上，以中國大連萬達集團的成長路徑為例，對企業動態能力的發展及公司成長的角度進行分析。深入探討大連萬達集團的四次轉型歷程，並選取兩個轉型歷程中經典的購併案例深入分析，分別為美國AMC院線和美國世界鐵人公司。透過轉型路徑的分析加上購併為集團帶來的成果研究，得出萬達集團在變化的競爭環境中不斷把握時機，轉變集團定位，並以購併的方式獲得新的集團競爭力，使集團不斷成長。 / Companies need to renew their competencies in order to achieve sustained growth in the changing business environment. In this thesis, I draw on prior studies on firm growth and examine the growth of the Dalian Wanda Group, a large diversified business group in China. I focus on the Wanda Group's four-transformation process, and in particular on its two recent acquisitions, AMC cinema and IronMan Company. The findings suggest that the Wanda Group has been able to develop and acquire new competencies in response to a changing competitive environment, and has been able to achieve growth through domestic diversification and internationalization.

<p>The growth of the Swedish Computing and Communicationsindustry is studied in this thesis. Growth is seen as a dynamicprocess moved by the entry, expansion, contraction and exit offirms.</p><p>The analysis is founded on the theory of the ExperimentallyOrganised Economy, which views the economy as an experimentalprocess. The entire thesis is organised around the problem ofresource allocation and the issue of growth through theintroduction of new combinations into the economic system,using the terminology of Schumpeter (1911). Competence blocsdetermine the efficiency of the economic process, i.e., theextent to which it leads to sustained economic growth ratherthan stagnation. Change is a fundamental feature of theeconomic process, firms have to be flexible to survive and theeconomic system must promote flexibility to grow. Many trials,or experiments, are required to discover and select "winning"firms and technologies. Hence, the turnover (i.e., entry andexit) of firms is supposed to have positive effects on growth.Theory, furthermore, predicts that new and small firms are moreentrepreneurial and innovative and that they, therefore, willgrow faster than old and large firms.</p><p>The empirical results show that firm growth decreases withfirm age, decreases with firm size, increases with firmindependence, decreases with government ownership and thatindustry growth increases with firm turnover. Moreover, thesmallest firms have been the major job contributors during the1993-1998 period investigated empirically. It is also shownthat employment growth is facilitated by a sustained high entryof firms.</p><p>Lastly, many policies, several of which were introduced inthe late 1960s and early 1970s, have selectively supportedlarge firms in mature industries. Hence, they have exercised arelatively negative influence on exactly the types of firmsthat have been shown to contribute to growth. These policieshave also made the Swedish economy less flexible. It is arguedthat this partly explains the slow economic growth in Swedencompared to other OECD countries since the 1970s. Aninteresting question is where Sweden would have been today witha different policy orientation.</p><p><b>Keywords:</b>The Experimentally Organised Economy;Competence Blocs; Industrial dynamics; Industrialtransformation; Firm age, Small-firm growth; Turnover of firms;Computing and Communications industry; IT industry;Institutions.</p>

SMEs can play a significant role in the economy as drivers of economic growth and job creation. Many SMEs are, however constrained by their limited access to finance. This study examines the source of finance of firms in South Africa and estimates the importance of finance as a predictor of output per worker. Using the 2007 World Bank Enterprise Survey, the study focuses on the firm’s access to finance, or sources of finance, as a predictor of the productivity of South African firms. Other factors that are taken into account include sources of finance such as the overdraft of the firm, collateral available and the type of financial institution used to acquire financing. These covariates all play an integral role in whether or not the firm will receive the financing, the amount granted and the repayment terms. Empirical analysis is done with a Cobb–Douglas production function regression to determine how output per worker is influenced by various factors. The results show that output per worker improves as additional finance variables are added to the regression model. Using an access to finance dummy as the dependent variable, a logistic regression model is used to calculate the probability of access to finance as a constraint based on the independent variables. The results of the logistic regression show that the probability of firms’ experiencing access to finance as a constraint is decreased by variables such as fixed assets and increase with negative factors such existing debt and collateral. These results are expected based on previous research on the topic and confirms that access and finance sources are determinants for firm growth. Recommendations include more extensive research on the topic, with panel data over a longer period and specific to a country. Policy recommendations include amended evaluation techniques, adapted to the individual firm’s requirements and strengths. / Thesis (M.Com. (Economics))--North-West University, Potchefstroom Campus, 2012.

SMEs can play a significant role in the economy as drivers of economic growth and job creation. Many SMEs are, however constrained by their limited access to finance. This study examines the source of finance of firms in South Africa and estimates the importance of finance as a predictor of output per worker. Using the 2007 World Bank Enterprise Survey, the study focuses on the firm’s access to finance, or sources of finance, as a predictor of the productivity of South African firms. Other factors that are taken into account include sources of finance such as the overdraft of the firm, collateral available and the type of financial institution used to acquire financing. These covariates all play an integral role in whether or not the firm will receive the financing, the amount granted and the repayment terms. Empirical analysis is done with a Cobb–Douglas production function regression to determine how output per worker is influenced by various factors. The results show that output per worker improves as additional finance variables are added to the regression model. Using an access to finance dummy as the dependent variable, a logistic regression model is used to calculate the probability of access to finance as a constraint based on the independent variables. The results of the logistic regression show that the probability of firms’ experiencing access to finance as a constraint is decreased by variables such as fixed assets and increase with negative factors such existing debt and collateral. These results are expected based on previous research on the topic and confirms that access and finance sources are determinants for firm growth. Recommendations include more extensive research on the topic, with panel data over a longer period and specific to a country. Policy recommendations include amended evaluation techniques, adapted to the individual firm’s requirements and strengths. / Thesis (M.Com. (Economics))--North-West University, Potchefstroom Campus, 2012.