We study the short- and medium-term extensive and intensive margins of intangible investments in firm growth processes. The intensive and extensive margins of investment are both highly skewed and differ across sectors. Less productive firms are less likely to invest in intangibles, while...

This study provides the first empirical evidence on the impact of innovation and firm growth on performance across G7 economies, using a unique panel dataset of 252 firms from 2020 to 2024. This study examines two core dimensions of firm performance-labor productivity and asset turnover-and...

This paper explores the relationship between equity crowdfunding (ECF) and the growth of Italian SMEs. Using two case studies, one in the agri-food sector and the other in cleantech, and comparing them with non-crowdfunded equivalents, we find that ECF significantly enhanced the post-campaign...

This paper studies the interaction between process and product innovations and their distinct role in firm growth dynamics. We differentiate empirically and theoretically two types of process innovations: foundational processes that advance production technology and cost-reducing processes that...

Objective: The article aims to identify and assess factors influencing the development of entrepreneurs' businesses after the age of 50, with particular emphasis on firm age, entrepreneurial motivations, and support from the environment. Research Design & Methods: We gathered data through a...

We study how demand related to the digital transformation of public institutions affects local suppliers of IT-related services and products in the Czech Republic during 2012-2022, a period of rapid digital transformation of the public sector. Using firm- and tender-level data and...

We document and dissect a new stylized fact about firm growth: the shift from labor to intermediate inputs. This shift occurs in input quantities, cost and output shares, and output elasticities. We establish this fact using German firm-level data and replicate it in administrative firm data...

This study relies on the dual model of passion to explore the direct and conditional effect of passion on firm growth. The study proposed persistence and environmental uncertainty as pathways through which passion influences firm growth. The model of firm growth was tested on a sample of 381...

The paper assesses the moderating role of firm age in the relationship between financial constraints, as measured by the KZ index, and the WW index on three alternative measures of firm growth (Asset growth, ROA, and ROE) in the ASEAN-6 region. This study employs a sample of ASEAN-6 listed firms...

We document and dissect a new stylized fact about firm growth: the shift from labor to intermediate inputs. This shift occurs in input quantities, cost and output shares, and output elasticities. We establish this fact using German firm-level data and replicate it in administrative firm data...

Most firms aspire to longevity, yet only a minority survive more than their initial years. Unsurprisingly, then, business survival has long attracted the interest of many academics. The various factors thought to influence business longevity have generated multiple studies on ownership status,...

Entrepreneurship aims to contribute significantly to economic development, a trend that has been progressively growing over time. Nonetheless, female entrepreneurs continue to face substantial challenges, including limited access to financial resources and sociocultural barriers. The influence...

What are the key determinants of firm growth in developing countries? Using firm-level data from the World Bank Enterprise Surveys (WBES) spanning 2010-2024, we examine the impact of three distinct categories of factors on firm growth dynamics: (1) firm-level characteristics, (2) contextual...

This paper examines the impact of the European Union's Cohesion Policy 2014-2020 on enterprise dynamics at the NUTS-2 level. Using discrete eligibility thresholds at 75 and 90 percent of EU average GDP per capita, we implement sharp and fuzzy regression discontinuity designs to assess effects on...

The relationship between R&D expenditures and firm growth is examined for a cross-country firm-level dataset for the EU countries in the period from 1989 to 2019. A panel dynamic average treatment effect is estimated using a panel time-varying dynamic difference-in-differences model. The...

I study how firms adapt to exogenous changes in labor costs induced by collective bargaining agreements. I use data on collective bargaining agreements in Sweden and study the impact of the nationwide bargaining that took place in 2004. I make a difference-in-differences analysis and compare...

Using both regression analysis and an unsupervised graphical model approach (never applied before to this issue), we confirm the rejection of the Gibrat's law when our firm-level data are considered over the entire investigated period, while the opposite is true when we allow for market...

Policy-makers and scholars often assume that a higher incidence of high-growth firms (HGFs) is synonymous with vibrant regional economic dynamics, and that HGF shares are persistent over time as Entrepreneurial Ecosystems (EEs) have slowly-changing features. In this paper we test these...

One of the key questions in the study of regulation is whether the costs of regulatory compliance fall homogeneously on all businesses or whether certain firms, for instance small ones, are especially penalized. We quantify firms' compliance costs in terms of their labor spending to adhere to...