Publicado

2018-12-01

High-Growth firms in Peru

Empresas de alto crecimiento en Perú

Empresas de alto crescimento no Peru

DOI:

https://doi.org/10.15446/cuad.econ.v37n75.69585

Palabras clave:

High-Growth Firms, Firm Growth, Peru, Gibrat’s Law (en)
Empresas de alto crecimiento, crecimiento empresarial, Perú, Ley de Gibrat (es)
empresas de alto crescimento, crescimento empresarial, Peru, Lei de Gibrat (pt)

Descargas

Autores/as

  • Alex Coad Pontificia Universidad Católica del Perú
  • Gregory Scott Pontificia Universidad Católica del Perú
This exploratory research note investigates the frequency and activity of HighGrowth Firms (HGFs) in Peru using panel data on Peru's largest firms for the years 2001-2016. Firms in our dataset enjoyed strong growth in revenues during the period. Compared to other countries, HGFs are relatively common in Peru although the share they represent of all firms in the database decreased over the time span of our analysis. We confirm several previous findings, such as the heavy-tailed growth rates distribution, and the superior growth performance of small and young firms.
Este artículo examina la frecuencia y actividad de las empresas de alto crecimiento en Perú, empleando datos de panel sobre las empresas más grandes de Perú entre los años 2001 y 2016. Las empresas de nuestro conjunto de datos gozaron de un fuerte crecimiento en sus ingresos durante dicho periodo. En comparación con otros países, las empresas de alto crecimiento son relativamente comunes en Perú, aunque la proporción que representan del total de empresas incluidas en la base de datos disminuyó con el paso del tiempo en el periodo analizado. Confirmamos varios hallazgos previos, como la distribución de cola pesada de las tasas de crecimiento, y el desempeño superior de crecimiento de las empresas pequeñas y jóvenes.
Este artigo examina a frequência e a atividade das empresas de alto crescimento no Peru, usando dados em painel sobre as principais empresas no Peru entre 2001 e 2016. As empresas em nosso conjunto de dados tiveram um forte crescimento em suas receitas durante esse período. As empresas em nosso conjunto de dados tiveram um forte crescimento em suas receitas durante esse período. Em comparação com outros países, as empresas de alto crescimento são relativamente comuns no Peru, embora a proporção que elas representam do número total de empresas incluídas no banco de dados tenha diminuído ao longo do tempo no período analisado. Confirmamos várias descobertas anteriores, como a distribuição de cauda pesada das taxas de crescimento e o desempenho de crescimento superior de empresas pequenas e jovens.

Referencias

Abusada, R., & Cusato, A. (2007). Crecimiento económico e instituciones en el Perú: 1970-2006. Lima, Perú: Instituto Peruano de Economía.

Acs, Z., Åstebro, T., Audretsch, D., & Robinson, D. T. (2016). Public policy to promote entrepreneurship: A call to arms. Small Business Economics, 47(1), 35-51.

Alarco Tosoni, G. (2011). Profit margins, financing and investment in the Peruvian business sector (1998-2008). CEPAL Review, 105, 123-139.

Andersson, M., & Waldenström, D. (2017). Hernando De Soto: Recipient of the 2017 Global Award for Entrepreneurship Research. Small Business Economics , 49(4), 721-728. doi: https://doi.org/10.1007/s11187-017-9948-5

Anon. (2009, September 2). Peru’s economy has shrunk but it should escape recession, The Economist, London, 23.

Audretsch, D. (2012). Entrepreneurship research. Management Decision, 50(5), 755-764. doi: https://doi.org/10.1108/00251741211227384

Axtell, R. L. (2016). 120 million agents self-organize into 6 million firms: A model of the US private sector. Proceedings of the 15th International Conference on Autonomous Agents and Multiagent Systems (AAMAS) 2016 (pp. 806-816). South Carolina, USA: International Foundation for Autonomous Agents and Multiagent Systems.

Bianchini, S., Bottazzi, G., & Tamagni, F. (2017). What does (not) characterize persistent corporate high-growth? Small Business Economics , 48(3), 633-656.

Birch, D. L. (1979). The job generation process. Cambridge, Massachusetts: MIT program on neighborhood and regional change.

Bos, J. W., & Stam, E. (2014). Gazelles and industry growth: A study of young high-growth firms in The Netherlands. Industrial and Corporate Change, 23(1), 145-169.

Bottazzi, G., & Secchi, A. (2006). Explaining the distribution of firm growth rates. Rand Journal of Economics, 37(2), 235-256.

Bottazzi, G., Coad, A., Jacoby, N., & Secchi, A. (2011). Corporate growth and industrial dynamics: Evidence from French manufacturing. Applied Economics, 43(1), 103-116.

CGBS (Centrum Graduate Business School). (2016). Perú: visión de líderes. Lima, Perú: Centrum Publishing.

Chaston, I., & Scott, G. (2012). Entrepreneurship and open innovation in an emerging economy. Management Decision , 50(7), 1161-1177. doi: 10.1108/00251741211246941

Choi, T., Rupasingha, A., Robertson, J. C., & Leigh, N. G. (2017). The effects of high growth on new business survival. The Review of Regional Studies, 47(1), 1-23.

Coad, A. (2009). The growth of firms: A survey of theories and empirical evidence. Cheltenham, UK: Edward Elgar Publishing.

Coad, A. (2010). Investigating the exponential age distribution of firms. Economics: The Open-Access, Open-Assessment E-Journal, 4, 1-30.

Coad, A., Daunfeldt, S. O., Johansson, D., & Wennberg, K. (2014a). Whom do high-growth firms hire? Industrial and Corporate Change , 23(1), 293-327.

Coad, A., Daunfeldt, S. O., Hölzl, W., Johansson, D., & Nightingale, P. (2014b). High-growth firms: Introduction to the special section. Industrial and Corporate Change , 23(1), 91-112.

Coad, A., Daunfeldt, S. O., & Halvarsson, D. (2018). Bursting into life: Firm growth and growth persistence by age. Small Business Economics , 50(1), 55-75.

Conaghan, C. (2005). Fujimori’s Peru: Deception in the public sphere. Pittsburgh, PA: University of Pittsburgh Press.

Dancourt, O., Mendoza, W., & Vilcapoma, L. (1997). Fluctuaciones económicas y shocks externos: Perú 1950-1996. Economía, 20(39-40), 63-102.

Daunfeldt, S. O., Johansson, D., & Halvarsson, D. (2015). Using the Eurostat-OECD definition of high-growth firms: A cautionary note. Journal of Entrepreneurship and Public Policy, 4(1), 50-56.

Daunfeldt, S. O., Elert, N., & Johansson, D. (2016). Are high-growth firms overrepresented in high-tech industries? Industrial and Corporate Change , 25(1), 1-21. doi: 10.1093/icc/dtv035

De Althaus, J. (2007). La revolución capitalista en el Perú. Lima: Fondo de Cultura Económica.

Delmar, F., Davidsson, P., & Gartner, W. B. (2003). Arriving at the high-growth firm. Journal of Business Venturing, 18(2), 189-216.

Demir, R., Wennberg, K., & McKelvie, A. (2017). The strategic management of high-growth firms: A review and theoretical conceptualization. Long Range Planning, 50(4), 431-456.

European Commission. (2014). Policies to support high growth innovative enterprises (Final report). Brussels: European Commission.

Eurostat-OECD. (2007). Eurostat-OECD manual on business demography statistics. Luxembourg: Office for Official Publications of the European Communities.

Flores, J., & Ickis, J. (2007). La responsabilidad social en Cementos Lima y sus efectos en la creación de valor para el negocio y en la gestión de riesgo, In J. Flores, E. Ogliastri, E. Peinado-Vara, & I. Petry (Eds.), El argumento empresarial de la RSE: 9 casos de América Latina y el Caribe (pp. 165-187). Washington D. C.: BID (Banco Interamericano de Desarrollo) and INCAE Business School.

Gibrat, R. (1931). Les inégalités économiques: applications, aux inégalités des richesses, a la concentration des entreprises, aux populations des villes, aux statistiques des familles, etc.: D’une loi nouvelle la loi de l’effet proportionnel. Paris, France: Recueil Sirey.

Gonzales de Olarte, E. (1991). Una economía bajo violencia: Perú, 1980-1990 (Documento de Trabajo 40, Serie economía 14). Lima: Instituto de Estudios Peruanos.

González Vigil, F. (2009). El TLC China-Perú: Una negociación ejemplar. Punto de equilibrio, 18(101), 30-31.

Hausmann, R., & Klinger, B. (2008). Growth diagnostics in Peru (Working Paper CSI-111 PE-P1074). Inter-American Development Bank.

Henrekson, M., & Johansson, D. (2010). Gazelles as job creators: A survey and interpretation of the evidence. Small Business Economics , 35(2), 227-244.

Henrekson, M., & Sanandaji, T. (2014). Small business activity does not measure entrepreneurship. Proceedings of the National Academy of Sciences, 111(5), 1760-1765.

Hölzl, W. (2014). Persistence, survival, and growth: a closer look at 20 years of fast-growing firms in Austria. Industrial and Corporate Change , 23(1), 199-231.

IMD (Institute for Management Development). (2010), World Competitiveness Yearbook 2010. Lausanne: IMD.

INEI (Instituto Nacional de Estadística e Informática). (2017). Perú: Estructura empresarial 2016. Lima, Perú: INEI.

Kahneman, D. (2011). Thinking, fast and slow. New York, NY: Macmillan Publisher.

Kasturi, V., Barton, B., & Reficco, E. (2012). Corporate Responsibility and Community Engagement at the Tintaya Copper Mine. Harvard Business School 9-056-023. Boston, MA: Harvard Business School Publishing.

Lavardo Gagliardi, E. (2013, june 22). Sabor a ti. Los Añaños. SOMOS (El Comercio), 50-59.

Lederman, D., Messina, J., Pienknagura, S., & Rigolinia, J. (2014). Emprendimiento en América Latina. Muchas empresas y poca innovación. Resumen. Washington, D.C.: Banco Mundial.

Llosa, G., & Panizza, U. (2015). Peru’s great depression: A perfect storm? (Working Paper No. 45, May 2015). Peruvian Economic Association.

Loayza, N. (2008). El crecimiento económico en el Perú. Economía, 31(61), 9-25.

Machado, R. (2014). La economía informal en el Perú: Magnitud y determinantes (1980-2011). Centro de Investigación de la Universidad del Pacifico, 41(74), 197-233.

Marquina, P. (2010). BEMBOS. Un icono del sabor peruano y de la estrategia empresarial. Lima: El Comercio.

Mason, C., & Brown, R. (2013). Creating good public policy to support high-growth firms. Small Business Economics , 40(2), 211-225.

McKenzie, D. (2017). Identifying and spurring high-growth entrepreneurship: Experimental evidence from a business plan competition. American Economic Review, 107(8), 2278-2307.

Murakami, Y. (2007). Perú en la era del chino: la política no institucionalizada y el pueblo en busca de un salvador. Lima, Perú: Instituto de Estudios Peruanos.

Navarro, J. C., Benavente, J. M., & Crespi, G. (2016). The new imperative of innovation: Policy perspectives for Latin America and the Caribbean. Washington D.C.: Inter-American Development Bank.

OECD (Organization for Economic Co-operation and Development).(2011). OECD reviews of innovation policy: Peru 2011. Paris, France: OECD Publishing. doi: http://dx.doi.org/10.1787/9789264128392-en

OECD (Organization for Economic Co-operation and Development). (2015). Entrepreneurship at a glance. Paris, France: OECD Publishing .

OECD (Organization for Economic Co-operation and Development). (2016). Start-Up Latin America: Building an innovative future. Paris, France: OECD Publishing .

Paan, C. (2013, August 26). El reto Añaños. Día 1. Lima: El Comercio .

Pasco-Font, A., & Saavedra, J. (2001). Reformas estructurales y bienestar: una mirada al Perú de los noventas. Lima, Perú: GRADE.

Pastor, M., & Wise, C. (1992). Peruvian economic policy in the 1980s: From orthodoxy to heterodoxy and back. Latin American Research Review, 27(2), 83-117.

Quiroz, A. (2008). Corrupt circles: A history of unbound graft in Peru. Washington, D.C.: Woodrow Wilson Center Press.

Rossini, R., & Santos, A. (2015). Peru’s recent economic history: From stagnation, disarray, and mismanagement to growth, stability and quality policies. In Werner, A., & Santos, A. (Eds.). Peru: Staying the course of economic success (pp. 9-36). Washington, D.C.: IMF Publications.

Schneider, F., Buehn, A., & Montenegro, C. E. (2010). New estimates for the shadow economies all over the world. International Economic Journal, 24(4), 443-461.

Schumpeter, J. (1934). The theory of economic development. Boston, MA: Harvard University Press.

Scott, G. (2011). Growth rates for potatoes in Latin America in comparative perspective: 1961-07, American Journal of Potato Research, 88, 143-152.

Scott, G., & Zelada, F. (2011). Benchmarking the competitiveness of informal food processors: The case of French fries in Lima, Perú. Potato Research, 54(1), 29-44.

Scott, G., & Chaston, I. (2012). Culture and innovation in an emerging economy: The case of Peru. Journal of Global Initiatives, 7(2), 131-145.

Scott, G., & Chaston, I. (2013). Open innovation in an emerging economy. Management Research Review, 36(10), 1024-1036.

Scott, G., & Chaston, I. (2014). Innovation, learning and performance in a resource-rich emerging economy. South African Journal of Business Management, 45(1), 1-9.

Shepherd, D., & Wiklund, J. (2009). Are we comparing apples with apples or apples with oranges?: Appropriateness of knowledge accumulation across growth studies. Entrepreneurship Theory and Practice, 33(1), 105-123.

Shimizu, T. (2004). Family business in Peru: Survival and expansion under the liberalization. IDE Working Paper No. 7. Chiba, Japan: Institute of Developing Economies.

Skidmore, T. E., & Smith, P. (1997). Modern Latin America. New York, NY: Oxford University Press.

Stanley, M. H. R., Amaral, L. A. N., Buldyrev, S.V., Havlin, S., Leschhorn, H., Maass, P., Salinger, M. A., & Stanley, H. E. (1996). Scaling behavior in the growth of companies. Nature, 379, 804-806.

Sutton, J. (1997). Gibrat’s Legacy. Journal of Economic Literature, 35 (1), 40-59.

Tello, M. D. (2017). Innovation and productivity in services and manufacturing firms: The case of Peru. CEPAL Review , 121, 69-86.

Tello, M. D., & Tavara, J. (2010). Productive development policies in Latin American countries: The case of Perú, 1990-2007 (IDB Working Paper Series No. IDB-WP 129) Washington D.C: Inter-American Development Bank.

Tornqvist, L., Vartia, P., & Vartia, Y. O. (1985). How should relative changes be measured? American Statistician, 39(1), 43-46.

World Bank. (2017). Peru - Systematic country diagnostic. Washington D. C.: World Bank Group.

Zhou, H., De Kok, J., Hartog, C., & Van Der Zwan, P. (2012). The risk of growing fast: Does fast growth have a negative impact on the survival rates of firms? Frontiers of Entrepreneurship Research, 32(9), Article 1.

Cómo citar

APA

Coad, A. y Scott, G. (2018). High-Growth firms in Peru. Cuadernos de Economía, 37(75), 671–696. https://doi.org/10.15446/cuad.econ.v37n75.69585

ACM

[1]
Coad, A. y Scott, G. 2018. High-Growth firms in Peru. Cuadernos de Economía. 37, 75 (dic. 2018), 671–696. DOI:https://doi.org/10.15446/cuad.econ.v37n75.69585.

ACS

(1)
Coad, A.; Scott, G. High-Growth firms in Peru. Cuadernos 2018, 37, 671-696.

ABNT

COAD, A.; SCOTT, G. High-Growth firms in Peru. Cuadernos de Economía, [S. l.], v. 37, n. 75, p. 671–696, 2018. DOI: 10.15446/cuad.econ.v37n75.69585. Disponível em: https://revistas.unal.edu.co/index.php/ceconomia/article/view/69585. Acesso em: 16 abr. 2024.

Chicago

Coad, Alex, y Gregory Scott. 2018. «High-Growth firms in Peru». Cuadernos De Economía 37 (75):671-96. https://doi.org/10.15446/cuad.econ.v37n75.69585.

Harvard

Coad, A. y Scott, G. (2018) «High-Growth firms in Peru», Cuadernos de Economía, 37(75), pp. 671–696. doi: 10.15446/cuad.econ.v37n75.69585.

IEEE

[1]
A. Coad y G. Scott, «High-Growth firms in Peru», Cuadernos, vol. 37, n.º 75, pp. 671–696, dic. 2018.

MLA

Coad, A., y G. Scott. «High-Growth firms in Peru». Cuadernos de Economía, vol. 37, n.º 75, diciembre de 2018, pp. 671-96, doi:10.15446/cuad.econ.v37n75.69585.

Turabian

Coad, Alex, y Gregory Scott. «High-Growth firms in Peru». Cuadernos de Economía 37, no. 75 (diciembre 1, 2018): 671–696. Accedido abril 16, 2024. https://revistas.unal.edu.co/index.php/ceconomia/article/view/69585.

Vancouver

1.
Coad A, Scott G. High-Growth firms in Peru. Cuadernos [Internet]. 1 de diciembre de 2018 [citado 16 de abril de 2024];37(75):671-96. Disponible en: https://revistas.unal.edu.co/index.php/ceconomia/article/view/69585

Descargar cita

CrossRef Cited-by

CrossRef citations2

1. Alex Coad, Stjepan Srhoj. (2020). Catching Gazelles with a Lasso: Big data techniques for the prediction of high-growth firms. Small Business Economics, 55(3), p.541. https://doi.org/10.1007/s11187-019-00203-3.

2. Stjepan Srhoj. (2022). Can we predict high growth firms with financial ratios?. Financial Internet Quarterly, 18(1), p.66. https://doi.org/10.2478/fiqf-2022-0006.

Dimensions

PlumX

Visitas a la página del resumen del artículo

407

Descargas

Los datos de descargas todavía no están disponibles.

Licencia

Derechos de autor 2018 Cuadernos de Economía

Cuadernos de Economía a través de la División de Bibliotecas de la Universidad Nacional de Colombia promueve y garantiza el acceso abierto de todos sus contenidos. Los artículos publicados por la revista se encuentran disponibles globalmente con acceso abierto y licenciados bajo los términos de Creative Commons Atribución-No_Comercial-Sin_Derivadas 4.0 Internacional (CC BY-NC-ND 4.0), lo que implica lo siguiente: