Four years on: Are the gazelles still running? A longitudinal study of firm performance after a period of rapid growth

Senderovitz, Martin, Klyver, Kim, & Steffens, Paul (2016) Four years on: Are the gazelles still running? A longitudinal study of firm performance after a period of rapid growth. International Small Business Journal, 34(4), pp. 391-411.

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Abstract

This article examines variations in performance between fast-growth – the so-called gazelle – firms. Specifically, we investigate how the level of growth affects future profitability and how this relationship is moderated by firm strategy. Hypotheses are developed regarding the moderated growth–profitability relationship and are tested using longitudinal data from a sample of 964 Danish gazelle firms. We find a positive relationship between growth and profitability among gazelle firms. This relationship is moderated, however, by market strategy; it is stronger for firms pursuing a broad market strategy rather than a niche strategy. This study contributes to the current literature by providing a more nuanced view of the growth–profitability relationship and investigating the potential for the future performance of gazelle firms.

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ID Code: 83584
Item Type: Journal Article
Refereed: Yes
Keywords: gazelle firms, growth, profitability, strategy
DOI: 10.1177/0266242614567483
ISSN: 1741-2870
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Entrepreneurship (150304)
Divisions: Current > Research Centres > Australian Centre for Entrepreneurship
Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Management
Copyright Owner: Copyright 2015 The Author(s)
Deposited On: 15 Apr 2015 01:12
Last Modified: 18 Nov 2016 00:57

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