Data-driven definitions of gazelle companies that rule out chance : application for Russia and Spain
Savin, Ivan (Universitat Autònoma de Barcelona. Institut de Ciència i Tecnologia Ambientals)
Novitskaya, Maria (The Ural Branch of the Russian Academy of Sciences. Institute of Economics)

Date:	2023
Abstract:	The phenomenon of fast-growing companies exhibiting sustained growth and creating disproportionally many new jobs, so-called "gazelles", has been widely analyzed in the literature. The criteria defining "gazelles", however, lack a consensus, while it cannot be ruled out that superior performance of these companies is just good luck. We use large firm-level datasets for Russia and Spain and conduct a Monte Carlo experiment with first-order Markov chains to derive a definition of "gazelle" companies and ensure that their existence cannot be explained by chance only. Our results demonstrate that the definitions of "gazelle" companies differ between the two countries warning against using same definition for different countries. We find that the "gazelles" account for about 1-2% of the companies in our datasets and are responsible for approximately 14% of employment growth in Russia and 9% in Spain. These companies are concentrated in economic sectors like retail trade, real estate and construction.
Note:	Altres ajuts: acords transformatius de la UAB
Note:	Unidad de excelencia María de Maeztu CEX2019-000940-M
Rights:	Aquest document està subjecte a una llicència d'ús Creative Commons. Es permet la reproducció total o parcial, la distribució, la comunicació pública de l'obra i la creació d'obres derivades, fins i tot amb finalitats comercials, sempre i quan es reconegui l'autoria de l'obra original.
Language:	Anglès
Document:	Article ; recerca ; Versió publicada
Subject:	Employment ; Fast-growing firm ; Markov Chain Monte Carlo ; SME ; Sustained job creation ; SDG 8 - Decent Work and Economic Growth
Published in:	Eurasian Business Review, (April 2023) , ISSN 2147-4281

DOI: 10.1007/s40821-023-00239-2

36 p, 1.6 MB

The record appears in these collections:
Research literature > UAB research groups literature > Research Centres and Groups (research output) > Experimental sciences > Institut de Ciència i Tecnologia Ambientals (ICTA)
Articles > Research articles
Articles > Published articles