The results of our main analyses above indicate that, on the one hand, the high internal social capital of the board had a consistently negative influence on firm growth
. This supports our suggestion that internal bonding may hinder the active functioning of the board that leads to successful exploration for firm growth
Studies like those of Coad and Tamvada (2012) confirm these ideas, as they find that the export activity has a positive effect on different measures of firm growth
. In a similar vein, other research proves that growth-oriented entrepreneurs are more likely to pursue a higher presence of their firms in international markets (De Clercq, 2005; Heinonen, Pukkinen, & Nummela, 2004).
Third, using these data, we can observe the firm growth
derived in the previous subsection.
THE RESEARCH ON THE FIRM GROWTH
PROCESS AND ITS RELATIONSHIPS WITH OTHER PERSPECTIVES ON FIRM EXPANSION
Firm owners need to understand the firm growth
that will finance a succession is largely dependent on the junior advisors: Consequently, they deserve to share in that increased revenue and firm value.
Hypothesis 1: Strategic planning is positively related to family firm growth
As competitors begin to catch up, the initial firm develops additional dynamic capabilities which distance a firm from its competitors to provide for additional firm growth
Self-Organizing--The self-organizing process is the overall governance process of a firm that would normally start developing after the early firm growth
stage and controls all the other processes.
Another part of the explanation may come from the aforementioned theoretical observations that growth ambition results more often in actual firm growth
The authors take the natural logarithm of firm size and expect it to be negatively related to firm growth
. Firm age is another control variable, since it can better reveal the life cycle of the firm (Evans, 1987; Geroski & Gugler, 2004).
The topic of firm growth
has attracted scholarly interest since Gibrat's contribution in the 1930s: the economic importance of rapidly-growing young firms was highlighted in the 1970s by David Birch (Gibrat, 1934; Birch, 1979).
671), for example, finds that firm growth
decreases with firm age when size is held constant.