Paper #1244

Títol:

Gazelle companies: Growth drivers and an evolution analysis

Autors:

Oriol Amat i Jordi Perramon

Data:

Novembre 2010

Resum:

Gazelle companies are relevant because they generate much more employment than other companies and deliver high returns to their shareholders. This paper analyzes their behavior in the years of high growth and their evolution in the following years. The main factors that explain their success are competitive advantages based on human resources, innovation, internationalization, the excellence in processes and a conservative financial policy. Nevertheless, as time goes by they can be divided in two groups: a group which continues having growth, but most of them with lower growth rates; and the rest which face great problems or even disappear. The present study identifies several key factors that explain this different evolution.

Paraules clau:

Gazelle companies, high-growth companies, financial information, business evolution, financial statements.

Codis JEL:

L1; M41; M13.

Àrea de Recerca:

Finances i Comptabilitat

Publicat a:

Revista Internacional Legis de Contabilidad & Auditoría, ISSN: 1692-2913, 2011, july-september, 47, pp.137-160.

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