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Re-examining And Extending Penrose's Growth Theory: Updating Penrose For The 21St Century

Lockett, Andy, Wiklund, Johan, & Davidsson, Per (2007) Re-examining And Extending Penrose's Growth Theory: Updating Penrose For The 21St Century. In Babson College Entrepreneurship Research Conference (BCERC), June 2007, Madrid, Spain.

Abstract

Edith Penrose argued that firms face a constraint on organic growth because of growth activities in previous periods. Central to her ideas about growth is the distinction between managerial and entrepreneurial capabilities. Growth in previous periods creates adjustment costs which are associated with managerial capabilities and impacts on the growth opportunities which are associated with entrepreneurial capabilities. In this paper we revisit Penrose’s work to examine how the nature of growth in previous periods may effect growth in the current period. Employing a panel of all commercially active enterprises in the private (non-government) sector in Sweden over a 10 year period our results indicate that previous organic growth acts as a constraint on organic growth, however, acquisitive growth may act as a catalyst for organic growth. Based on these findings, we suggest extensions Penrose’s to growth theory.

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ID Code: 12927
Item Type: Conference Paper
Additional Information: The contents of this conference can be freely accessed online via the publisher's web page (see hypertext link).
Additional URLs:
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Organisational Planning and Management (150312)
Divisions: Current > Research Centres > Australian Centre for Business Research
Current > Research Centres > Australian Centre for Entrepreneurship
Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Management
Copyright Owner: Copyright 2007 (please consult author)
Deposited On: 06 Mar 2008
Last Modified: 11 Aug 2011 04:19

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