The study of high-tech companies’ growth specifics applying the parametric approach

The economic literature have not unequivocally answered the question whether Russian high-technology companies possess some growth advantages compared to others. The paper studies the growth specifics of companies in high-technology sector that distinguish them from medium- and low-technology companies. Methodologically, the researcher relies on theoretical concepts of technological development, Schumpeterian theories of endogenous growthbased on the notion that technological development is linked equally with emergence of the new and evolution of the old technologies. The study applies panel and comparative parametric analysis methods. The factor productivity is taken as an absolute indicator of technological growth. The empirical evidence of the research is a sample of companies from the high-technology sector, two medium-technology industries, and one low-technology industry (6811 companies in total). The findings demonstrate that high- and medium-technology companies are comparable according to the selected parameters, but differ significantly from low-technology companies. Companies’ concentration in the industrial market also matters, defined in the form of the Herfindahl-Hirschman Index. In addition, a significant number of inefficient companies are found in the high-technology industry of aircraft manufacturing, which also features the most fragmented environment and vast gaps in factor productivity. Intangible assets ratios are higher for companies with maximum values of factor productivity, the lowest values belong to the lowtechnology industry of primary metal products. The author concludes about the relevance of assessing the potential of technological growth for manufacturing industries on the basis of their ability to grow and timely get rid of unproductive companies blocking its resources.