Commonly used Jones-type discretionary accrual models applied in quarterly settings do not adequately control for nondiscretionary accruals that naturally occur due to firm growth. We show that the relation between quarterly accruals and backward-looking sales growth (measured over a rolling four-quarter window) and forward-looking firm growth (market-to-book ratio) is non-linear. Failure to co...

High-growth firms (HGFs) have attracted considerable attention recently, as academics and policymakers have increasingly recognized the highly skewed nature of many metrics of firm performance. A small number of HGFs drives a disproportionately large amount of job creation, while the average firm has a limited impact on the economy. This article explores the reasons for this increased interest,...

The paper investigates whether liquidity constraints affect firm size and growth dynamics using a large longitudinal sample of Italian manufacturing firms. We run standard panel-data Gibrat regressions, suitably expanded to take into account liquidity constraints (proxied by cash flow scaled by firm sales). Moreover, we characterize the statistical properties of firms size, growth, age, and (sc...

small and medium size firms have major influence on job creation. some researchers, believe most of the new jobs are created in existed firms rather than newly established ones. growth management, could be the most important tactic for the firms future success. although it has many advantages for the firm, growth process faces some challenges. in this research, these challenges were identified,...

To promote industrialisation of the backward areas in the country, growth centres providing infrastructure to enable the states to attract industries, were set up by the Government of India in 1988. In this study, I assess the performance of growth centres, taking into account the impact of growth centres on firm location. I do not find growth centres to have a statistically significant effect ...