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The role of alliances in the early development of high-growth firms

Author

Listed:
  • Vivian Mohr
  • Elizabeth Garnsey
  • Gregory Theyel

Abstract

Rapid growth is sought after but may overstretch a firm's resources. Can alliances supply compensating support for rapidly growing firms? Longitudinal data on firms in a technology cluster are used to investigate rapid growth in relation to alliances and other factors known to be associated with firm growth. Rapid firm growth appears beneficial in terms of higher survival rates and earlier attainment of mid-size, but is rarely sustained. Alliances are predictors of rapid growth, as are international operations. Venture capital is not directly associated with firm growth in the findings, but there is a high incidence of alliances among venture capital-backed firms. Copyright 2014 The Author 2013. Published by Oxford University Press on behalf of Associazione ICC. All rights reserved., Oxford University Press.

Suggested Citation

  • Vivian Mohr & Elizabeth Garnsey & Gregory Theyel, 2014. "The role of alliances in the early development of high-growth firms," Industrial and Corporate Change, Oxford University Press and the Associazione ICC, vol. 23(1), pages 233-259, February.
    • Handle: RePEc:oup:indcch:v:23:y:2014:i:1:p:233-259
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    File URL: http://hdl.handle.net/10.1093/icc/dtt056
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    Cited by:

    1. Mercedes Teruel & Alex Coad & Clemens Domnick & Florian Flachenecker & Peter Harasztosi & Mario Lorenzo Janiri & Rozalia Pal, 2022. "The birth of new HGEs: internationalization through new digital technologies," The Journal of Technology Transfer, Springer, vol. 47(3), pages 804-845, June.
    2. Daunfeldt, Sven-Olov & Halvarsson, Daniel & Mihaescu, Oana, 2015. "High-growth firms: Not so vital after all?," Ratio Working Papers 263, The Ratio Institute.
    3. Ross Brown & Suzanne Mawson, 2016. "Targeted support for high growth firms: Theoretical constraints, unintended consequences and future policy challenges," Environment and Planning C, , vol. 34(5), pages 816-836, August.
    4. Márta Bisztray & Francesca de Nicola & Balázs Muraközy, 2023. "High-growth firms’ contribution to aggregate productivity growth," Small Business Economics, Springer, vol. 60(2), pages 771-811, February.
    5. Besnik A. Krasniqi & Sameeksha Desai, 2016. "Institutional drivers of high-growth firms: country-level evidence from 26 transition economies," Small Business Economics, Springer, vol. 47(4), pages 1075-1094, December.
    6. Nebojša Stojčić & Ivan-Damir Anić & Tonći Svilokos, 2021. "The entrepreneurial gains from market integration in the new EU member states," Small Business Economics, Springer, vol. 57(3), pages 1-20, October.
    7. John Hagedoorn & Boris Lokshin & Stéphane Malo, 2018. "Alliances and the innovation performance of corporate and public research spin-off firms," Small Business Economics, Springer, vol. 50(4), pages 763-781, April.
    8. Suzanne Mawson, 2018. "Customer perceived value in high growth firms," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, vol. 37(75), pages 755-778, December.
    9. Sorin Gabriel Anton, 2019. "Leverage and firm growth: an empirical investigation of gazelles from emerging Europe," International Entrepreneurship and Management Journal, Springer, vol. 15(1), pages 209-232, March.
    10. Victoria Golikova & Boris Kuznetsov, 2017. "Suboptimal Size: Factors Preventing the Growth of Russian Small and Medium-Sized Enterprises," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 11(3), pages 83-93.
    11. Ho-Chang Chae, 2024. "In search of gazelles: machine learning prediction for Korean high-growth firms," Small Business Economics, Springer, vol. 62(1), pages 243-284, January.
    12. Andreas Reinstaller & Elisabeth Christen & Klaus S. Friesenbichler & Jürgen Janger & Gerhard Schwarz & Fabian Unterlass, 2014. "WIFO-Unternehmensbefragung: Strategische Zusammenarbeit zwischen jungen Technologieunternehmen und Großunternehmen," WIFO Studies, WIFO, number 59353.
    13. Kovács, Olivér, 2020. "Gazellák az iparpolitika tükrében, I [Gazelles and industrial policy, Part 1]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 54-87.
    14. Donatella Depperu & Giacomo Magnani & Lisa Crosato & Caterina Liberati, 2021. "Growth of Firms in a Fragmented Cultural Industry: Italian Commercial Art Galleries’ Competitive Strategies," Sustainability, MDPI, vol. 13(9), pages 1-19, April.
    15. Teruel Carrizosa, Mercedes & Coad, Alexander & Domnick, Clemens & Flachenecker, Florian & Harasztosi, Péter & Janiri, Mario Lorenzo & Pál, Rozália, 2021. "The birth of new high growth enterprises: Internationalisation through new digital technologies," EIB Working Papers 2021/02, European Investment Bank (EIB).
    16. Justin J. P. Jansen & Ciaran Heavey & Tom J. M. Mom & Zeki Simsek & Shaker A. Zahra, 2023. "Scaling‐up: Building, Leading and Sustaining Rapid Growth Over Time," Journal of Management Studies, Wiley Blackwell, vol. 60(3), pages 581-604, May.

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