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No 50:
Firm Growth in the Retail and Wholesale Trade Sectors – Evidence from Sweden

Sven-Olov Daunfeldt, Åsa Lang, Zuzana Macuchova and Niklas Rudholm ()

Abstract: To identify the determinants of firm growth within the Swedish retail – and wholesale trade industries during the period 1998- 2004, we analyze a sample of 400 limited companies using quantile regression techniques. Our results indicate that firm growth mainly can be explained by time-invariant firm-specific effects, supporting Penrose’s (1959) suggestion that internal resources such as firm culture, brand loyalty, entrepreneurial skills, and so on, are important determinants of firm growth rates.

Keywords: firm dynamics; firm level heterogeneity; high-growth firms; resource-based view; quantile regression; (follow links to similar papers)

JEL-Codes: L11; L25; L26; L81; (follow links to similar papers)

25 pages, June 1, 2011

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This paper is published as:
Daunfeldt, Sven-Olov, Åsa Lang, Zuzana Macuchova and Niklas Rudholm, (2013), 'Firm growth in the Swedish retail and wholesale industries', The Service Industries Journal, Vol. 33, No. 12, pages 1193-1205



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