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This research examines micro‐enterprises pursuing gradual growth. The research findings and implications are provided in two parts. Part 1 was presented in Volume 6, Number 4 of the Journal of Small Business and Enterprise Development (JSBED) (Perren, 2000). It developed an empirically verified framework that explains how growth was influenced by a myriad interacting factors; this led to a discussion of the policy implications of the framework. Part 2 explores the managerial implications of the framework. A diagnostic toolkit is systematically developed to encourage micro‐enterprise owner‐managers and advisers to explore the influences on the interim growth drivers identified in part 1. It is hoped this will help them to highlight ways of “compensating” deficits in particular factors and to think creatively about growth opportunities. The audience has changed from academics and policy‐makers to owner‐managers, so the diagnostic toolkit avoids technical language and employs a Socratic questioning approach to encourage free‐thinking and self‐analysis.

This research examines micro‐enterprises pursuing gradual growth. While very little research has been targeted specifically at the growth of micro‐enterprises, there are a host of possible influencing factors suggested by the rather broader small business literature. Less research has attempted to integrate the factors that influence growth of small firms into some form of model. Those models that were found had a number of shortfalls when it came to understanding the development of micro‐enterprises. A framework has been developed through this research that addresses these shortfalls. First, it has targeted specifically gradual growth micro‐enterprises; secondly, it is rigorously under‐pinned through empirical research; thirdly, it attempts to comprehensively cover the range of factors that influence development; fourthly, it focuses on the complex interaction of factors that may influence development. The research findings and implications are presented in two parts. Part 1 develops an empirically verified framework that explains how growth is influenced by a myriad of interacting factors. This leads to a discussion of the policy implications of the framework. Part 2 is presented in the next edition of the Journal of Small Business and Enterprise Development (JSBED) and will explore the managerial implications of the framework. This will provide a diagnostic toolkit to help micro‐enterprise owner‐managers and advisers pursue growth. The paper is derived from research conducted initially for the submission of a PhD thesis at the University of Brighton (Perren, 1996).

This study aims to identify and prioritize various growth-accelerating factors in the Indian automotive industry. It further develops a hierarchical model to examine the mutual interactions between the factors, their dependence and their driving power.

This study first identifies the growth-accelerating factors and then uses the modified total interpretive structural modeling (m-TISM) framework, which is an extended version of TISM. It further uses MICMAC analysis to analyze the mutual interrelation between the identified factors.

This study highlights the interrelation amongst the factors using m-TISM model. A hierarchical model shows the level of autonomous, dependence, linkage and independent factors considering the Indian automotive industry. This study also provides the understanding related to the interdependence of growth-accelerating factors.

The government and practitioners could evaluate the growth-accelerating factors which have higher driving power for implementing efficient policies and strategy formulation. By implementing m-TISM model in the Indian automotive industry, auto manufacturers can become more productive and profitable. Future studies could use other methods such as expert opinion to derive the factors, and further model could be verified using structural equation modeling technique.

This study uses a novel m-TISM framework for the analysis of growth-accelerating factors in the context of the Indian automotive industry. It further provides a detailed theoretical and conceptual understanding relating to the philosophy and establishes an interrelation amongst these under-researched growth-accelerating factors.

The purpose of this paper is to mainly investigate what factors drive growth for independent hotel firms on an island.

Two steps were followed. First, to identify hotels demonstrated significant growth; 92 independent hotels in North Cyprus were analyzed via a self-report questionnaire. Second, key growth factors were examined in five hotels showing the growth over years among the independent hotels via in-depth, semi-structured interviews, focus group interviews, and observations.

The study findings revealed 16 important growth factors for hotels, including active risk taking, education, family history, networks of contacts, other business interests, family investing friends, key employee partners, customer concentration, autonomy, innovativeness, proactiveness, competitive aggressiveness, location, desire to succeed, age of founders, and state support where are strong, weak, and interrelated relationships among these factors. These findings allow factors to be categorized into new groups, namely, strategic and tactical factors. The research findings unveil new factors referred to as “political conflict – pursuing different strategy and opportunities,” importance of second generations affect and entrepreneur’s metacognitive strategies, “informal networking.”

More research should also be undertaken for entrepreneurs or managers who formulate and implement strategies to enter new markets or to tackle turbulent and/or unstable environments.

This study reveals that one factor on its own cannot influence the growth of hotels. Rather, successful growth depends on the entrepreneur’s ability to combine all factors in harmony.

Given that there is limited empirical evidence on the growth of independent hotels on islands, this study made an important attempt to contribute to the entrepreneurship literature in the hospitality management and family business fields via micro-level approaches concerning the factors influencing hotels’ growth on an island. This is one of the first studies presenting and discussing empirical findings on growth factors for small hotels on an island, and brings a new perspective by grouping factors as strategic and tactical factors.

This paper aims to investigate a relatively new anomaly of investment growth and revisits well-known anomalies of size and value. It aims to answer two main research questions. First, can covariance risks (i.e. factor loadings) be excluded from being determining variables that drive return premiums and explain stock returns? Second, from a behavioral finance standpoint, the authors examine whether using firm characteristics is a more practical and accessible approach and also meets the necessary and sufficient conditions to analyze stock returns.

The authors create the investment-growth-based factor (LMH) which is defined as the return difference between low and high investment growth portfolios. The authors then incorporate the LMH factor along with other characteristic-based factors and their loadings into characteristic-balanced portfolio and three-factor model tests.

The authors find that covariance risks on investment growth, size and value are not necessary as determining variables. Instead, they find that behavioral-related firm characteristics of investment growth, size and value are necessary and sufficient as determinants of return premiums and stock returns.

The results have practical and useful implications for investors in their stock portfolio analysis and selection because firm characteristics are relatively more available than covariance risks that need estimation and typically contain measurement errors.

The paper has practical value to investors in their stock portfolio analysis and selection. Methodologically, in contrast to prior studies that do not directly use the investment growth to control for portfolio characteristics, the use of the newly created LMH factor and its loadings allows us to directly and properly test if the investment growth anomaly is related to the investment growth characteristic that is hypothesized to drive return premiums and determine stock returns from behavioral finance perspectives.

The purpose of this paper is to develop a double mechanism model to separate two foreign direct investment (FDI) intra-industry spillovers mechanisms: spillovers by FDI intensity and by FDI efficiency. This paper seeks to illustrate the potential use of the double mechanism model rather than provide precise estimates of spillovers. The evidence on the links between technology and the nature, size and mechanisms of FDI spillovers effects in economically developing countries is mixed.

A model is developed and tested, in principle. Empirical testing was conducted in two steps. In the first step, the authors examined the effect of each influencing factor to FDI spillovers separately. To complete this step, the authors divided the whole sample industry into sub-groups and tested them with the double-mechanism using ordinary least squares regression. This study applies Chinese National Bureau of Statistics manufacturing industry level data, for the years 2000, 2001 and 2002, including the food industry, beverage industry, textile industry, textiles and garments, chemicals and chemical products industry, overall manufacturing equipment, special equipment, computer and other electronic equipment manufacturing industries.

The analysis suggests significant differences between types of spillovers: export orientation of domestic firms mainly influences FDI spillovers by intensity; the capability gap between local and foreign firms influences spillovers by efficiency; and the growth of local firms influences both types of spillovers. This paper develops existing models of FDI and suggests that disaggregating spillovers types may provide important theoretical and policy insights.

This study has found, first, that compared with the classic single mechanism model, the double mechanism model is more appropriate for testing FDI intra-industry spillovers, as it is able to separate spillovers by intensity and spillovers by efficiency, which are shown as two distinct mechanisms for FDI spillovers. This allows a deeper analysis into each mechanism and the identification of relevant influencing factors.

This paper aims to contribute to the understanding of the motives of individuals in Tanzania to start their own businesses on the one hand and the growth of their firms on the other hand.

A survey method was used to gather data from 300 small business owners and managers located in selected cities in Tanzania. Multiple regression analysis was conducted to analyse the relationship between the motivation to start an own business on the one hand and firm growth on the other hand. Three indicators for growth, namely, employment, sales and assets, were used to measure growth.

The results suggest that that pull factors are more important to start the businesses than push factors. This contradicts the common opinion and previous research that push factors are more important than pull factors in developing countries. Furthermore, the study found that pull factors are positively related to firm, whereas push factors are negatively related to firm growth.

It should be noted that while this paper makes a number of contributions, there are some limitations that should be considered when interpreting the results. For instance, the data for this study were collected from only one type of business, i.e. the furniture industry (in Tanzania). Accordingly, we do not know the applicability of these findings to other businesses in other sectors. Therefore, future research should include businesses in other sectors to ascertain if the present findings are specific to the furniture business only or are applicable to other businesses as well.

Our findings indicate that there are differences in motivations among owner-managers in starting the business and subsequent firm performance. Therefore, individuals need different forms of support depending on the level of development of their business, as well as their motivation. For example, we have seen that the presence of role models has a significant effect on business growth. Therefore, the government might consider using the media and other mechanisms to feature stories about successful entrepreneurs.

The authors extend the findings of previous studies that investigate the owner-manager motives and small and medium-sized enterprises (SMEs) growth in developed economy settings, but neglected emerging economies. The study also contradicts the common opinion and previous research that push factors are more important than pull factors in developing countries.

The purpose of this paper is to develop a conceptual framework to explain the firm growth process based on an integration and extension, through empirical research, of Penrose’s theory of the growth of the firm and the resource-based view. Theoretical development within the firm growth literature has been noticeably limited. Firm growth studies use different theoretical bases and what is needed is integration of multiple theories and empirical testing of these to form a new conceptual framework capable of explaining the modern growth process fully.

The key perspectives are critically reviewed and integrated and empirical qualitative research is undertaken analysing the process of growth in two firms. Semi-structured interviews, participant observation and analysis of company documentation are utilised.

The key insight this research provides is detailed information with regard to which resources, mediators and outputs are vital to firm growth, how they need to be developed and why this is the case. The study shows that these act in a cyclical nature to enable firm growth and development.

These findings could be used by practitioners to determine which part of the conceptual framework requires the most amount of improvement and which are developed to an acceptable state, enabling them to make plans for the achievement of growth.

This research is able to reconceptualise two dominant theoretical perspectives resulting in the generation of a new firm growth framework, thereby addressing a distinct gap in the firm growth literature.

This paper explores key factors influencing high-performing, sustained growth, high-tech small- and medium-sized enterprises (SMEs) in South Korea.

A qualitative study is adopted to explore seventeen founder owner-managers of high-tech SMEs who sustained consistent employment growth, greater than the industry average, for seven years. Within the sample, those with higher (10% or over) employment compound annual growth rates (CAGRs) over this period are also compared to those with lower rates.

The study suggests that proactive approaches, such as flexible organization, risk management, fast decision-making and international market entry, are seen as important contributing factors to sustained growth. These findings contribute to a better theoretical and empirical understanding of sustained high-tech SME growth, in a country with a strong entrepreneurial and internationally competitive information technology sector. Also, collaboration across the SME was perceived as making an important contribution to staff development and growth, consistent with stewardship theory.

The sample is based on successful high-tech SMEs, so there are limitations in extrapolating results to other types of firms, sectors or countries.

Key factors identified in this study can be considered by entrepreneurs seeking to achieve sustainable business. These also provide improved understanding for policymakers into the complexity of factors related to sustained and high growth of technology-based SMEs, which many countries are keen to foster to aid national economic growth.

The research provides new evidence exploring the diverse perspectives of founder owner-managers, on the sustained growth and failure in South Korean high-tech SMEs, and how these have changed since the inception of their business.

The purpose of this paper is to analyze the influence of different factors on forestry production, with an aim to explore the degree of connection between forestry economic growth and influencing factors such as forestry investment, labor input, afforestation area, scientific and technologies progress, and the reform of property-rights regimes.

According to the data of China Forestry Statistical Yearbook from 1978 to 2017, this paper uses the grey correlation analysis to observe and analyze the factors influencing China’s forestry economics growth.

The results show that capital investment demonstrates the largest impact on the forestry output value, followed by property system, afforestation area, labor input and technologies progress. The correlation coefficients of the above factors are 0.874451654,0.85827468,0.835138412,0.832985604 and 0.825747493. This means that forestry capital investment plays a major role in contributing to forest economic growth; forest property system also plays a positive role in the growth of forestry economy.

This paper uses continuous data collected during 1978‒2017, which are quite extensive as compared to data used in the existing research, considering the influencing factors are comprehensive, especially the impact of property right system reform on forestry economic growth.