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1 – 10 of over 13000
Article
Publication date: 10 August 2010

Durim Hoxha and Joan‐Lluis Capelleras

The paper is aims at investigating the contribution of fast‐growing firms to employment and the determinants of fast growth in Kosova, which can be considered an environment…

1235

Abstract

Purpose

The paper is aims at investigating the contribution of fast‐growing firms to employment and the determinants of fast growth in Kosova, which can be considered an environment characterized by a transitional period and extreme conditions for entrepreneurship.

Design/methodology/approach

The paper was based on the data collected from face‐to‐face interviews with 585 firm founders. The contribution of firms to job creation was computed by using descriptive statistics and then an ordinal logit regression model was employed to explore the determinants of fast growth.

Findings

Results indicate that the contribution of fast‐growing firms to employment in this environment is lower than that in Western and developed countries. Findings also suggest that fast growth is positively affected by specific human capital, intentions to grow and the ability to deal with external barriers, while having a university degree is found to be negatively related to fast growth.

Research limitations/implications

This paper provides a better understanding of the phenomenon of fast‐growing firms and has several theoretical and practical implications. Importantly, the research on fast‐growing firm is still not mature and the overall picture on fast‐growing firms have yet to be built.

Originality/value

Most of the empirical evidence on fast‐growing firms comes from developed countries. This paper provides the empirical evidence from a transitional yet extreme context to further our knowledge on the topic of firm's fast growth.

Details

Journal of Small Business and Enterprise Development, vol. 17 no. 3
Type: Research Article
ISSN: 1462-6004

Keywords

Abstract

Details

Fostering Productivity: Patterns, Determinants and Policy Implications
Type: Book
ISBN: 978-1-84950-840-7

Article
Publication date: 29 July 2019

Anthony Thomas Garcia, Anthony Loviscek and Kangzhen Xie

Does Fortune magazine’s list of the 100 Fastest-Growing Companies have information content; that is, is the list a source for market-beating performance? The paper aims to discuss…

Abstract

Purpose

Does Fortune magazine’s list of the 100 Fastest-Growing Companies have information content; that is, is the list a source for market-beating performance? The paper aims to discuss this issue.

Design/methodology/approach

Using data for 26 annual periods, 1991–2016, the paper examines the top 5, 10, 25, 50 and all 100 stocks on a return-risk basis, including an application of Modern Portfolio Theory. To generate portfolio performance metrics, the study uses conventional mean-variance analysis, which includes the estimation of returns and risks, where risk will be measured by standard deviation and β. To arrive at the performance metrics and to determine whether information content is embedded in the list, the study reviews a series of tests. Because Fortune ranks the companies from 1 to 100, the data can be used to test if information content is displayed in sub-groups, such as in the first five to ten companies, even if it does not exist in the 100-stock portfolios.

Findings

The study finds that the returns are not high enough nor are the risks low enough statistically to conclude the existence of significant information content.

Research limitations/implications

As part of the authors’ efforts to move to the population of 2,600 firms as closely as possible, the authors use “delisting” returns from CRSP on 120 firms to account for missing observations, with a final sample size of 2,594 firms.

Practical implications

The evidence indicates that investors drawn to Fortune’s “100 Fastest-Growing Companies” should view them skeptically as a source for an effective stock selection strategy.

Originality/value

On the basis of the results of this study, readers will conclude that subscribers drawn to Fortune’s “100 Fastest-Growing Companies” should view them skeptically for investment recommendations. From a portfolio perspective, the study is unable to uncover information content that could lead to a market-beating performance, suggesting that the published criteria Fortune uses to select the Fastest-Growing Companies is embedded in the prices of the stocks even before Fortune publishes its list. The study notes that the selection criteria used by Fortune do involve some judgments on the part of the editorial staff (e.g. whether an announced restatement of previously reported financial data appears to have a significant impact), which means that someone who wished to anticipate the publication of the next list of the “Fastest-Growing Companies” would not only have to gather information but would also have to correctly anticipate these judgment calls.

Details

Managerial Finance, vol. 45 no. 7
Type: Research Article
ISSN: 0307-4358

Keywords

Article
Publication date: 31 March 2022

Xuemei Guan, Wenfeng Li and Jingyi Huang

The purpose of this paper is to improve the dyeing effect of fast-growing fir wood dyed with reactive dyes.

Abstract

Purpose

The purpose of this paper is to improve the dyeing effect of fast-growing fir wood dyed with reactive dyes.

Design/methodology/approach

In this study, five factors including temperature, the dosage of dye accelerator, dyeing time, the dosage of fixing agent and fixing time were investigated. Then, the color difference and light resistance of the wood surface after dyeing were used as the evaluation indicators; the best dyeing process under the two indicators was obtained through the range analysis. Finally, the two indicators were considered comprehensively, and the fuzzy comprehensive evaluation method was used to obtain the best dyeing process under the comprehensive indicators.

Findings

The results show that when the comprehensive index was used as the evaluation index, the optimal dyeing process for reactive red X-3B dyeing fast-growing fir veneer was that the dyeing temperature was 65°C; the amount of dye accelerator was 25 g L−1; the dyeing time was 2 h; the amount of fixing agent was 15 g L−1; and the fixing time was 35 min.

Originality/value

The technique of wood dyeing is an important method to increase the value of wood products. When using different kinds of dyes or dyeing substrates for wood dyeing, the dyeing process is different. This study determined the best process for reactive dye dyeing of fast-growing fir veneer and provided a solution for improving the value of fast-growing fir wood.

Details

Pigment & Resin Technology, vol. 52 no. 5
Type: Research Article
ISSN: 0369-9420

Keywords

Article
Publication date: 1 February 1974

A. Coskun Sanli

Explores, within the framework of international research, product, distribution and price. Investigates the behaviour of large US firms with a view to identifying and difference…

Abstract

Explores, within the framework of international research, product, distribution and price. Investigates the behaviour of large US firms with a view to identifying and difference in growth rates to their counterparts. Examines the relationship between fast growth of the corporate entity as a whole and its international marketing orientation.

Details

European Journal of Marketing, vol. 8 no. 2
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 18 February 2021

Carol M. Connell, Christine Lemyze and William L. McGill

Whether they support long-term growth companies, entrepreneurial firms or turnarounds, top teams need to make bold strategic investment choices in times of boom, bust or pandemic…

Abstract

Purpose

Whether they support long-term growth companies, entrepreneurial firms or turnarounds, top teams need to make bold strategic investment choices in times of boom, bust or pandemic. This paper aims to discuss firm strategies, as evidenced by their investment choices, over a 21-year period during which they led firms committed to growth through times of crisis and disruption.

Design/methodology/approach

The starting point for this research is Fortune magazine’s 100 Fastest Growing Companies, published in 2018 and updated in 2019. The list is based on the magazine’s ranking of the world’s top three-year performers in revenues, profits and stock returns for the four quarters preceding publication. Inclusion on the list is all about growth, not starting size (the smallest and not renown). The classification of firms by industry sector follows Fortune’s nomenclature. Comparing these firms with industry peers in the same period, the authors look at Fortune’s 100 Fastest-Growing Companies of 2018 from the vantage point of their financials from 1999 to 2017, years that included the tech boom and bust, the mortgage meltdown and the Great Recession. This period also saw a relatively long expansion which was, paradoxically, punctuated by a trade war with China and recession fears that have impacted spending for growth. Only 32 of Fortune’s 2018 list made it to Fortune’s 100 Fastest Growing Companies of 2019. The authors call them the Persistent 32 and examine their investment and performance metrics from 2018 through 2020.

Findings

The Persistent 32 – companies that have survived multiple recessions, including the COVID-19 recession, and continue to grow – have lessons to teach, although there is no silver bullet or secret formula, even within the same industry. It was found that in the group of 32, the average company lifespan is 28.75 years and astute, decisive leadership matters. Companies that persist make unique, strategic resource choices. They postpone expenditures on marketing and sales, fixed assets or R&D or all three depending on their needs, rather than fit with industry. They continue to invest in future growth. Their people are not expendable: employee retention during a recession has been a familiar strategy for the top growers covered in this investigation throughout the period (1999–2020). They cut cost of goods and services produced (COGS). The Persistent 32, loathing the idea of cutting COGS in the face of earlier recessions or recessionary threats, are cutting expenses other than personnel expenditures now. Amazon, Nvidia, Stamps.com, Lam Research, Supernus Pharmaceuticals all continue to rein in costs while simultaneously reinvesting in growth. They communicate their concerns and plans to their constituents. These companies retained and grew headcount while communicating their safety program as well as work-from-home and social-distancing strategies to employees, customers, shareholders and elected officials during the COVID-19 recession of 2020. They plan for supply disruptions. All have already articulated their plans for supply disruptions or alternative sources. Both the Federal Government and semiconductor companies are looking to jump-start the development of new chip factories in the USA as concern grows about reliance on Asia as a source of critical technology. They sense, seize, transform. David Teece’s dynamic capabilities framework is still the best way to turn every black swan event into an opportunity for business based on newly immediate needs. They work remotely. Businesses that are growing despite the recession are already committed to remote work. Join them and take the high anxiety out of work for both employees and customers.

Research limitations/implications

The starting point for our research was Fortune magazine’s 100 Fastest Growing Companies, published in 2018 and updated in 2019. The list is based on the magazine’s ranking of the world’s top three-year performers in revenues, profits and stock returns for the four quarters preceding publication. Only 32 of Fortune’s 2018 list made it to Fortune’s 100 Fastest Growing Companies of 2019. The authors call them the Persistent 32 and examine their investment and performance metrics from 2018 through 2020. They sought answers to three questions: First, do the fastest growing firms invest heavily in their businesses during recessions? The authors looked at the 100 fastest growing companies from 1999 to 2017 and then the Persistent 32 from 2018 to 2020. Second, what happened to the investments and performance of the Persistent 32 during the pandemic and recession that began in the first quarter of 2020? Where did they invest or curtail investment, what plans did they make around COVID-19 and what headcount decisions did they make? Third, do growth-committed firms follow different investment strategies that can be categorized based on spending patterns?

Practical implications

Companies that can survive and grow through the hardest of times have lessons to teach, although there is no silver bullet or secret formula, even within the same industry.

Social implications

Employee retention during a recession has been a familiar strategy for the top growers covered in this investigation throughout the period (1999–2020). This strategy is not generally common among US firms. Indeed, it says something about the growth prospects of these firms and their dependence on talent and need to leverage their prior investment in recruiting and training employees.

Originality/value

What is important about this topic? Whatever the industry, trying times call for top teams to try harder, identify priorities, spend to achieve them, manage stakeholder expectations and protect and build their access to top talent. The authors can help with the last four: they set up a structure for analyzing firm spending and performance metrics, based on Gulati and others writing for business practitioners; they comb the evidence for spending and performance shifts in good times and bad from 1999 to 2020; they categorize firm strategies by spending patterns versus industry; they examine the findings for insights; and finally, the authors identify key actions that set still growing firms apart.

Details

Journal of Business Strategy, vol. 43 no. 3
Type: Research Article
ISSN: 0275-6668

Keywords

Article
Publication date: 13 July 2012

Joakim Tell

The purpose of this paper is to create a better understanding of the strategic management behavior of top managers in small, fast‐growing manufacturing firms.

1368

Abstract

Purpose

The purpose of this paper is to create a better understanding of the strategic management behavior of top managers in small, fast‐growing manufacturing firms.

Design/methodology/approach

Empirical data have been collected in Sweden through both a survey of the 100 fastest growing small firms during 2000 and the development five years after (2001‐2006), as well as through structured observations of the working days of top managers in six fast‐growing manufacturing small firms.

Findings

Managers in small, fast‐growing manufacturing firms are engaged in many different activities. However, a few activities tend to take the majority of their time. These activities are either operational (for instance, activities related to production, marketing and sales) or administrative (for instance, activities related to the firms’ personnel and to financial issues). Looking at the managers’ activities from a strategy management point of view, they spend very little time on strategic activities. This finding may explain why firm growth in many cases declines or even ceases.

Originality/value

The paper contributes to the theoretical and empirical literature on strategic processes in small, fast‐growing manufacturing firms by showing that the majority of their managers use a “simplistic strategy”. Such a strategy may imply that these managers find it difficult to alter their originally successful operational and administrative behavior in order to develop their firms. Such managers are “stuck” in a path dependency mindset, even though the growth of their firms requires that they adopt a more flexible management strategy.

Details

Journal of Management Development, vol. 31 no. 7
Type: Research Article
ISSN: 0262-1711

Keywords

Article
Publication date: 1 April 1996

Allan H. Church and Gary C. McMahan

Reports the results of a recent survey that investigated the contemporary practice of organizational development among the USA’s fastest growing firms (as identified by Fortune

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Abstract

Reports the results of a recent survey that investigated the contemporary practice of organizational development among the USA’s fastest growing firms (as identified by Fortune magazine). States that although the project received a 31 per cent response rate overall, only 18 organizations provided usable results for analysis purposes. After an initial overview of the study, compares and contrasts the data collected from these organizations with results from related survey projects using similar sets of items. Also addresses the implications of these results for the practice of OD/HRD.

Details

Leadership & Organization Development Journal, vol. 17 no. 2
Type: Research Article
ISSN: 0143-7739

Keywords

Book part
Publication date: 31 December 2010

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities…

Abstract

The following is an introductory profile of the fastest growing firms over the three-year period of the study listed by corporate reputation ranking order. The business activities in which the firms are engaged are outlined to provide background information for the reader.

Details

Reputation Building, Website Disclosure and the Case of Intellectual Capital
Type: Book
ISBN: 978-0-85724-506-9

Article
Publication date: 2 March 2015

Debadutta Panda

– This paper aims to study the growth determinants of small-sized agro-based firms in the Indian agro-industry.

Abstract

Purpose

This paper aims to study the growth determinants of small-sized agro-based firms in the Indian agro-industry.

Design/methodology/approach

The stratified random sampling method was used to collect information from sample agro-firms. A structured pretested questionnaire was designed to collect required data. Descriptive statistics and multivariate technique were used to analyze the data.

Findings

The major determinants of firm growth were firm size, managerial networking intensity, skill development of employees, product diversification and market integration. Employee skill development was found to be a significant predictor of firm growth in slow-growing firms, but held as a weak predictor of growth in fast-growing firms; whereas, use of information technology was a significant growth predictor in fast-growing firms and an insignificant growth predictor in slow-growing firms. To attain growth, small-sized agro-based firms should move from a traditional product-focus strategy to a flexible market-focus strategy.

Research limitations/implications

This study engaged a small sample size and focused only on the determinants of firm growth in the agro-industry, and mapped number of firm growth predictors. The implication of this study encourages more specific investigations with large samples, i.e. how each determinant influences firm growth in the agro-industry.

Practical implications

The study outcome would help agro-enterprises in designing strategies and aligning their current strategy with the desired strategy for firm growth.

Social implications

Policy makers especially engaged in self-employment and enterprise development can use the study outcome for policy planning.

Originality/value

In recent years, the electronic and computer industry in India has developed and reached to an unexpected height. The agro-industry, in contrast, is still struggling due to its inherent weakness and external threats. The need of the hour is to expedite firm-level competitiveness, managerial excellence and business strategy for growth and survival. Therefore, the present study based on survey data adds value to the firm growth strategies in the agro-industry.

Details

International Journal of Commerce and Management, vol. 25 no. 1
Type: Research Article
ISSN: 1056-9219

Keywords

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