Does business model innovation support high-growth firms?

The growing literature on high-growth firms has received much attention, not only from academicians but also from practitioners. However, more about the determinants that triggered high growth should be known. This study attempts to bridge this gap by exploring the role of business model innovation through its four dimensions, i.e., product and process innovation, the financial structure of business transactions, the transformation of business network relations, and the renewal of its organizational processes, in high-growth propensity. Based on a comprehensive survey conducted in the Italian context, we show that some of these dimensions, such as network relationships and product and process innovation, significantly impact the sales growth of high-growth firms, while other dimensions only matter for firms experiencing moderate growth.