High-growth firms in New Zealand: Superstars or shooting stars?
研究了新西兰两批高增长企业的起源、人口统计特征和命运，发现它们规模较小、多出现在服务业、死亡率高但幸存者能维持就业规模，建议重新定义高增长并关注持续增长企业。
This is an empirical study of the origin, demographics and fate of two cohorts of high-growth firms in New Zealand. Customised data on high-growth firms, covering 1125 and 1067 firms in the 2005 and 2008 cohorts, respectively, came from government sources. High-growth firms are smaller, more likely to emerge in service industries and grow through the creation of multiple separate establishments. The ability to sustain high-growth is independent of pre-growth age and employment size. High-growth firms have death rates up to four times greater than other contemporary firms, but the survivors do retain their employment size, continuing to contribute disproportionately to employment for some years beyond their initial high-growth phase. The demonstrated inability of high-growth firms to sustain high growth suggests a rethink on how ‘high growth’ is defined, with future research focusing on sustained growth firms.