, Åsa Lang
, Zuzana Macuchova
and Niklas Rudholm
Sven-Olov Daunfeldt: The Swedish Retail Institute (HUI), Postal: Regeringsgatan 60, 103 29 Stockholm, Sweden, and Dalarna University, SE- 791 88 Falun, Sweden,
Åsa Lang: Dalarna University, Postal: Department of Business Administration, School of Technology and Business Studies, SE-791 88 Borlänge, Sweden. and Mid Sweden University, Department of Social Sciences, SE-831 25 Östersund, Sweden.
Zuzana Macuchova: Dalarna University, Postal: SE- 791 88 Falun, Sweden
Niklas Rudholm: The Swedish Retail Institute (HUI), Postal: Regeringsgatan 60, 103 29 Stockholm, Sweden, and Dalarna University, SE- 791 88 Falun, Sweden,
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.
25 pages, June 1, 2011
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