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Why do some ventures grow to become dominant market players while most new ventures that do not fail limp along more modest trajectories? In comparison with our knowledge regarding determinants of venture creation or survival, the phenomenon of venture growth has been relatively neglected, both theoretically and empirically. Venture growth is a multi-level phenomenon co-occurring at different analytical and temporal levels. In this chapter we develop a theoretical model that accounts for venture growth as a process, drawing upon the mechanism-based theorizing approach. We offer nine social mechanisms that lead to venture growth, providing a foundation for empirical exploration and further theory building.

“It should also be noted that the objective of convergence and equal distribution, including across under-performing areas, can hinder efforts to generate growth. Contrariwise, the objective of competitiveness can exacerbate regional and social inequalities, by targeting efforts on zones of excellence where projects achieve greater returns (dynamic major cities, higher levels of general education, the most advanced projects, infrastructures with the heaviest traffic, and so on). If cohesion policy and the Lisbon Strategy come into conflict, it must be borne in mind that the former, for the moment, is founded on a rather more solid legal foundation than the latter” European Commission (2005, p. 9)Adaptation of Cohesion Policy to the Enlarged Europe and the Lisbon and Gothenburg Objectives.

This chapter investigates the determinants of the growth performance of Africa. I start by illustrating a broader research agenda that accounts not only for basic economic and demographic factors but also for the role of history and institutional development. After reporting results from standard growth regressions, I analyze the role of Africa's peculiar history, which has been marked by its colonization experience. Next, I discuss the potential growth impact of state fragility, a concept that reflects multiple facets of the dysfunctions that plague the continent. The last topic I address is the influence, in and out of Africa, of the slave trades. The chapter ends with critical conclusions and suggestions for further research.

Current gazelle and high growth firm (HGF) research provides relatively little systematic knowledge if, how, why firm internationalization facilitates accelerated growth. This chapter aims at providing such an insight by addressing the following three questions: (1) What is the evidence of internationalization as an determinant of HGF; (2) How does internationalization facilitates fast growth?; (3) What do we know about the circumstance under which internationalization contributes to HGF? The chapter concludes that while there is clear evidence that internationalization and its different modes can be important determinants of accelerated firm growth, our knowledge remains limited on how different circumstances of the firm at the micro-, meso- and macro-level interact to condition growth opportunities through internationalization.

Purpose: In reality, financial decisions are made under conditions of asymmetric information that results in either favorable or adverse selection. As far as financial decisions affect growth of the firm, the latter must also be affected by either favorable or adverse selection. Therefore, the core objective of this chapter is to examine the determinants of each financial decision and the effects on growth of the firm under conditions of information asymmetry.

Design/Methodology/Approach: This chapter uses data for the non-financial firms listed in S&P 500. The data cover quarterly periods from 1989 to 2014. The statistical tests include linearity, fixed, and random effects and normality. The generalized method of moments estimation method is employed in order to examine the relative significance and contribution of each financial decision on growth of the firm, respectively. Standard and proposed proxies of information asymmetry are discussed.

Findings: The results conclude that there is a variation in the impact of financial variables on growth of the firm at high and low levels of information asymmetry especially regarding investment and financing decisions. A similar picture emerges in the cases of firm size and industry effects. In addition, corporate dividen d policy has a similar effect on firm growth across all asymmetric levels. These findings prove that information asymmetry plays a vital role in the relationship between corporate financial decisions and growth of the firm. Finally, the results contribute to the vast literature on the estimation of information asymmetry by demonstrating that the classical and standard proxies for information asymmetry are not consistent in terms of the ability to differentiate between favorable or adverse selection (which corresponds to low and high level of information asymmetry).

Originality/Value: This chapter contributes to the related literature in two ways. First, this chapter offers updated empirical evidence on the way that financing, investment, and dividends decisions are made under conditions of favorable and adverse selection. Other related studies deal with each decision separately. Second, the study offers new proxies for measuring information asymmetry in order to reach robust estimates of the effects of financial decisions on growth of the firm under conditions of agency problems.

The question discussed in this paper is whether foreign aid can help accelerate growth in African countries. The paper reviews growth determinants and growth constraints in Africa and discusses how aid can help relieve the constraints. Issues covered are the choice of aid modalities, donor coordination, conditionality, and international integration. A key question addressed is how aid should be organized not to overburden the recipient system and to provide incentives for policy makers to perform. The paper also touches upon the need for international trade reforms and public goods investments.

The ICT sector in France is characterized by intense firm birth rates, but also by a high mortality. Five years after the start-up, only 38.7% of the firms survived, comparing to 51.0% in the middle high technology and 46.3% in non-innovative branches (Lasch, 2003a). The high growth potential of ICT firms is linked to specific problems, such as a higher risk of failure, a difficult financing, the lack of knowledge in firm management of new entrepreneurs, etc. (Pleschak, 1997). Mostly SMEs, young ICT firms are extremely fragile, so the present chapter proposes to discuss the crucial topic of survival and growth in innovation and knowledge-based sectors.