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The formation and growth of high-technology firms are crucial for competitive advantage in advanced economies. These science and technology-based ventures drive significant technological innovations, creating new industry segments and challenging existing paradigms, thereby contributing to macroeconomic growth. While the role of high-tech firms in technological progress and economic growth is well-established, the determinants influencing their growth remain unclear. Previous studies have often overlooked the impact of network interactions and the regional and institutional environments surrounding these firms. This study examines firm growth in the German biotechnology sector by integrating organizational, spatial, relational, and institutional factors through multilevel regression modeling and both quantitative and qualitative network analysis. The findings reveal that, in addition to internal factors, various external elements—including network structure, adaptability, regional economic context, and the institutional environment—simultaneously influence firm growth. This research emphasizes that an integrative, multidimensional approach is essential for comprehensively understanding the complex dynamics of firm growth.
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The determinants of firm growth in high-technology industries, Julian Kahl
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- 2015
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