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Where do gazelles and high-growth firms occur in Germany?

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  • Tomenendal, Matthias
  • Raffer, Christian

Abstract

There is still a rather small number of studies on gazelles in Germany, home to Europe's largest economy and its capital Berlin, one of Europe's main startup hubs. In particular, a recent overview on the occurrence of gazelles in Germany, which differentiates gazelles (up to five years old) from other high-growth firms (no age restriction) is missing. Applying descriptive statistics to a data set of 5,328 high-growth firms we provide such an overview in terms of regional and sectoral distribution of German gazelles as well as their spatial link to regional business clusters. We find that most German high-growth firms (and equally gazelles) exist in the most populated German states. They mostly exist in traditional business sectors like construction and manufacturing. Relatively more gazelles than older high-growth firms exist in the sector of further business-related services. In the sectors construction, information and communication, further business-related services, and art, entertainment and recreation, we identify weak but significant positive spatial associations between the number of cluster initiatives and the number of gazelles. No such association exists for the entirety of high-growth firms in Germany.

Suggested Citation

  • Tomenendal, Matthias & Raffer, Christian, 2023. "Where do gazelles and high-growth firms occur in Germany?," BPS Working Paper Series 2, Berlin School of Economics and Law (HWR Berlin), Berlin Professional School (BPS).
    • Handle: RePEc:zbw:bpswps:2
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    References listed on IDEAS

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    Keywords

    gazelles; German gazelles; high-growth firms; distribution of gazelles; occurrence of gazelles; clusters; cluster embeddedness;
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