This paper is an empirical test of the hypothesis that the appropriateness of different business strategies is conditional on the firm's distance to the industry frontier. We use data on four 2-digit high-tech manufacturing industries in the US over the period 1972-1999, and apply...

We apply a panel vector autoregression model to a firm-level longitudinal database to observe the co-evolution of sales growth, employment growth, profits growth and growth of R&D expenditure. Contrary to expectations, profit growth seems to have little detectable effect on R&D investment....

The issue of technological unemployment receives perennial popular attention. Although there are previous empirical investigations that have focused on the relationship between innovation and employment, the originality of our approach lies in our choice of method. We focus on four 2-digit...

Empirical work on micro and small firms has focused on developed countries. The little work that exists on developing countries is all too often based on small samples taken from ad hoc questionnaires. The census data we analyze are fairly representative of the structure of small business in...

We attempt to describe the coevolution of employment growth, sales growth and growth of profits in a panel of French manufacturing firms 1996-2004. Our analysis entails ‘recursive’ panel vector autoregressions, whereby we impose the structure of employment growth leading to contemporaneous...

We survey the phenomenon of the growth of firms drawing on literature from economics, management, and sociology. We begin with a review of empirical 'stylised facts’ before discussing theoretical contributions. Firm growth is characterized by a predominant stochastic element, making it...

Between 1990 and 2004, the average annual growth of total real value added amounted to about 2.38 percent, with +1.33 percentage points contributed by capital output growth, +0.46 percentage point by labour output growth, and +0.85 percentage point by multi-factor productivity growth (as well as...

WIFO has been conducting its Business Cycle Survey since 1954. Today, some 1,600 businesses, with altogether more than 200,000 employees, are participating in the survey. The findings of the survey are analysed to obtain leading indicators of the state of the Austrian economy. The analysis shows...

This book takes up the challenge of developing an empirically based foundation for evolutionary economics built upon complex system theory. The authors argue that modern evolutionary economics is at a crossroads. At a theoretical level, modern evolutionary economics is moving away from the...