High-growth firms and productivity:evidence from the United Kingdom

Abstract There is considerable evidence that high-growth firms (HGFs) contribute significantly to employment and economic growth. However, the literature so far does not adequately explore the link between HGFs and productivity. This paper investigates the empirical link between total factor productivity (TFP) growth and HGFs, defined in terms of sales growth, in the United Kingdom over the period 2001-2010, by examining two related research questions. Firstly, does higher TFP growth lead to HGF status and secondly, does HGF experience help firms achieve faster TFP growth? Our findings reveal that firms in both the manufacturing and services sectors are more likely to become HGFs when they exhibit higher TFP growth. In addition, firms that have had HGF experience tend to enjoy faster TFP growth following the high-growth episodes. Policy implications are drawn based on the self-reinforcing process of the high-growth phenomenon that is revealed by our results

Looking inside the spiky bits : a critical review and conceptualisation of entrepreneurial ecosystems

The authors wish to thank the Organisational for Economic Cooperation and Development (OECD) for funding their original research on entrepreneurial ecosystems.The concept of entrepreneurial ecosystems has quickly established itself as one of the latest ‘fads’ in entrepreneurship research. At face value, this kind of systemic approach to entrepreneurship offers a new and distinctive path for scholars and policy makers to help understand and foster growth-oriented entrepreneurship. However, its lack of specification and conceptual limitations has undoubtedly hindered our understanding of these complex organisms. Indeed, the rapid adoption of the concept has tended to overlook the heterogeneous nature of ecosystems. This paper provides a critical review and conceptualisation of the ecosystems concept: it unpacks the dynamics of the concept; outlines its theoretical limitations; measurement approaches and use in policy-making. It sets out a preliminary taxonomy of different archetypal ecosystems. The paper concludes that entrepreneurial ecosystems are a highly variegated, multi-actor and multi-scalar phenomenon, requiring bespoke policy interventions.Publisher PDFPeer reviewe

Regional Competitiveness and the Productivity Performance of Gazelles in Cultural Tourism

Part of the Smart Innovation, Systems and Technologies book series (SIST, volume 209).The extant literature reports evidence that the economic performance of regions is driven not by the stagnant majority but by a minority of high-growth firms (HGFs), the so-called gazelles. Regional competitiveness depends on firms’ long-term competitiveness, which depends on labor productivity. Cultural tourism plays a crucial role in national and regional policies because it allows to engage local communities in its activities and provides them a source of income. This paper identifies HGFs operating in cultural tourism in 2014–2018 and analyses their labor productivity across Portuguese regions, relating them with the regional competitiveness. The regional distribution of gazelles in Portugal is uneven, with the Lisbon region concentrating 48%; the Northern region is the location of 26%; while the Centre and Alentejo regions capture 13% of gazelles. Results on Pearson correlations between labor productivity and changes on the Regional Competitiveness Index uncover significant negative links between HGFs average labor productivity and changes in regional competitiveness. However, the results suggest that gazelles have significantly contributed to regional competitiveness through productivity, in 2014–2015. Finally, some suggestions on strategies for promoting cultural tourism are presented.info:eu-repo/semantics/publishedVersio