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.

High-growth firms in Czechia: geographical and sectoral specifics Abstract This theses focuses on high-growth firms in Czechia, defined as firms with a predetermined year-on-year increase in turnover between years 2012 and 2015. First part is about putting high-growth firms to the context of selected theories of regional development and it also discuss factors of the firm's growth. Further the high-growth firms are analyzed with an emphasis on spatial, sectoral and other specifics. A part focused on revealing specific factors of business growth uwing qualitative methods is also included. The analysis shows that high- growth firms in Czechia are concentrated to metropolitan areas, and whole one third of them are based in Prague. High growth firms are concentrated to the manufacturing and retail and wholesale sectors. The work has suggested that individual companies may have different growth factors and and there is no one specific strategy for a successful firm growth. Keywords: High-growth firms, gazelles, economic geography, small and medium-sized enterprises

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.

Introduktion: Tillväxt inom företag har noggrant studerats inom företagsekonomin. Forskningsfältet är väldigt heterogent och orsaker till varför tillväxt inom företag sker, skiljer sig åt anmärkningsvärt företag sinsemellan. Denna studie ska undersöka den fortsatta tillväxten hos ett urval gasellföretag. Tidigare studier inom fältet har huvudsakligen fokuserat på gasellföretagens tillväxt fram tills att de definieras som gasellföretag, inte perioderna efter hög tillväxt. Syfte: Denna studie vill därför undersöka den fortsatta tillväxten hos 652 gasellföretag i Sverige, under tidsperioden 2005 – 2015, samt vilka faktorer som tycks påverka tillväxten. Teori: Studien är huvudsakligen baserad på ett spritt urval av forskning inom tillväxtfältet, från tidigt 1900-tal och framåt. T.ex. Gibrat, Delmar &amp; Davidsson, Birch etc. Valet av undersökta variabler, som antas ha samband med tillväxt, har noggrant valts utefter denna litteratur.   Metod: En longitudinell panelstudie har genomförts där ett antal företagsspecifika variabler har samlats in och använts i ett antal multivariata analyser, där tillväxt agerat som beroende variabel. Tidigare studier om gasellföretag och tillväxt inom företag har fungerat som ett fundament och riktlinje för studien. Företagspopulationen är baserad på en lista av gasellföretag från 2005 skapad av den svenska näringslivstidningen Dagens Industri. Slutsats: Faktorer som gasellföretagens ålder och koncerntillhörighet påverkar deras fortsatta tillväxt. Även faktorer så som storlek, bransch och geografisk marknad antas i viss grad ha en påverkan på gasellföretagens tillväxt under mätperioden. / Introduction: Firm growth has been carefully studied in the field of business administration &amp; economics. The area is very heterogeneous and the cause of firm growth seem to differ substantially. This paper aims to investigate the growth of longtime gazelle firms. Earlier studies in the research area has mainly focused on the time up towards firms gain their reputation as gazelles. Purpose: This study therefore aims to investigate the further growth of 652 gazelle firms in Sweden, during the time of 2005 – 2015, and what variables which seem to influence their growth. Theory: The study is mainly based on a widespread sample of research in the field of firm growth, reaching from the early 20th century and towards. The selection of investigated firm variables, which is thought to correlate with firm growth, has been carefully selected on this basis. Method: A longitudinal panel has been conducted where a few firm specific variables has been collected and used in a series of multivariate analysis, where growth has acted a dependent variable. Earlier studies regarding gazelles and firm growth has acted as a fundament and guideline and the population is based on a list of gazelle firms conducted by the Swedish magazine Dagens Industri from year 2005. Conclusion: Factors such as the gazelle firms age and governance is thought to have an impact on their relative and absolute growth. Also factors such as initial size, industry and geographical market/origin seem to some degree have an impact on gazelle firms’ growth. / <p>Gällande förfrågningar om data som använts för studien kontakta antingen: munkert.j@gmail.com eller fhovlandahman@gmail.com </p>

Bakgrund och problem: Gasellföretag klassas som de företagen med högst tillväxt i Sverige och utgör en viktig del av den nationella ekonomin. I takt med att de växer ställs nya krav på sammansättningen av gasellföretagens styrteknologier för fortsatt tillväxt.  Syfte: Syftet med studien är att undersöka gasellföretag för att skapa en djupare förståelse och samla kunskap kring hur sammansättningen av olika styrteknologier påverkas av tillväxten. Vi kommer undersöka vilka styrteknologier tillväxtföretagen arbetar med och hur de har påverkats under tillväxtfasen. Metod: För att undersöka studiens syfte valdes en kvalitativ flerfallstudie som forskningsdesign. Studiens empiri bygger på semistrukturerade intervjuer med tre gasellföretag som blivit selekterade genom ett kriteriestyrt urval. Slutsats: Studiens slutsats tyder på att sammansättningen av gasellföretags styrteknologier påverkas av den höga tillväxten. Vi ser förändringar i både de formella- och informella styrteknologierna och att förändringarna är nödvändiga för att hantera tillväxten. Vi finner många samband hur gasellföretag väljer att förändra och implementera styrteknologier för att hantera tillväxten.

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Bakgrund och problem: Vikten av de snabbväxande företagens påverkan på marknaden är något som på senare tid fått extra uppmärksamhet. Andelen snabbväxande företag i Sverige är hög jämfört med andra länder, men bara en liten del lyckas fortsätta överleva på lång sikt. Detta sker på grund av att företagen befinner sig i föränderliga miljöer som många av dessa snabbväxande företagen inte lyckas anpassa sig till samt klara av utmaningarna som uppstår vid tillväxt.   Syfte: Syftet med denna studie är att få en djupare förståelse för hur omgivningen påverkar styrningen i snabbväxande företag som befinner sig i föränderliga miljöer. Vidare sökes en förståelse kring hur företagen agerar för att växa och hur tillväxten påverkar utvecklingen av styrningen i företagen.   Metod: Baserat på syftet och de valda forskningsfrågorna valdes en flerfallstudie som forskningsdesign. De tre fallen som valdes består av svenska företag som under en kort period upplevt en mycket hög tillväxt. Semistrukturerade intervjuer valdes för insamling av empirin.   Slutsats: Studiens resultat tyder på att externa faktorer såsom digitalisering, konjunkturförändringar, politik och media har tvingat företagen att utvecklas från tidigare arbetssätt till en tydligare planering av verksamheten. De valda strategierna för snabb tillväxt är att antingen öka försäljningen eller expandera geografiskt. Det konstaterades att externa faktorer som politiska beslut kan möjliggöra tillväxten samt interna faktorer som viljan för tillväxt och kompetens driver tillväxten framåt. Dessutom konstaterades legitimitet vara en intern faktor som möjliggör tillväxt. / Background and problem: The importance of the influence of fast-growing companies in the market is something that has recently received extra attention. The proportion of fast-growing companies in Sweden is high compared to other countries, but only a small number manage to survive in the long term. This is due to the fact that companies are in turbulent environments that many of these fast-growing companies are unable to adapt to and meet the challenges posed by growth.   Purpose: The aim of this study is to gain a deeper understanding of how the environment affects the governance of fast-growing companies that are in changing environments. Furthermore, an understanding is sought of how companies act to grow and how growth affects the development of corporate governance.   Method: A multiple case study was selected as a research design based on the purpose and the selected research questions. The three cases selected consist of Swedish companies that experienced very high growth in a short period. Semi-structured interviews were selected for the collection of the empirical data.   Conclusion: The study's findings indicate that external factors such as digitalization, business cycles, politics and the media have forced companies to evolve from previous work methods to a formal planning of the business. The chosen strategies for rapid growth are to either increase sales or expand geographically. It was found that external factors such as political decisions may enable growth as well as internal factors such as the will for growth and competence to drive growth. In addition, legitimacy was found to be an internal factor enabling growth.

This study is about rapid growth in SMEs from an entrepreneur’s or manager’s perspective and it aim to find practices in order to enable and drive rapid growth. The purpose of this thesis is to understand how owner-led small businesses can be managed in order to maximize the profitable long term growth of the company. In order to understand this we have had a pragmatic perspective and have attempted to find practices that drive and enable fast growth. The study consists of an extensive literature study on the subject and five case studies of Swedish rapid growth companies. Each case study consisted of gathering secondary data and conducting 1-4 interviews at each company with Entrepreneurs, CEOs, CFOs and Sales managers. The result from the literature study and the case studies is a model for growth that is shown below. The model consists of eight different areas that are important to drive or enable growth in companies.  Each area in the model was identified as a driver, enabler or blocker of growth for each case study.   The conclusions from this thesis are five propositions regarding rapid growth that is listed below. ü  Proposition 1: All the areas in our analysis model can either be a blocker, an enabler or a driver of growth. ü  Proposition 2: It is possible to deliberately transform an area from a blocker, or enabler, into a driver of growth. ü  Proposition 3: It is important to make the business scalable so no area becomes a blocker of growth. ü  Proposition 4: The three areas, time monopoly, sales, and leadership could be considered as primary drivers for growth. ü  Proposition 5: The two areas culture and expansion could be considered as primary enablers of growth. The findings from this study are highly valuable for managers or entrepreneurs that want to increase growth of their companies.