New Firm Growth: Exploring Processes and Paths
基于Penrose企业成长模型，研究新企业成长的非线性、易中断和受挫特征，提出五个关于成长路径的可测量命题，并用三个国家的数据通过图形和序列分析进行验证。
This paper provides an approach to new firm growth that views this as an unfolding developmental process. This approach is based on a Penrosean (1995) model of the firm. We find that new firm growth is non‐linear and prone to interruptions and setbacks to an extent overlooked in the literature. From the model of development used, five propositions are drawn concerning measurable features of new firms' growth paths; these relate to patterns of survival, continuousness of growth, turning points, reversals and cumulative growth. These propositions are examined in the light of data on the growth paths of new firms in three countries, with aggregate comparisons of firms' growth paths effected by graphical representations and sequence analysis.