University of Oulu

The internal features of high-growth firms in Finland

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Author: Ali, Sara1
Organizations: 1University of Oulu, Oulu Business School, Department of Management and International Business, Management
Format: ebook
Version: published version
Access: open
Online Access: PDF Full Text (PDF, 0.8 MB)
Pages: 88
Persistent link:
Language: English
Published: Oulu : S. Ali, 2019
Publish Date: 2019-06-10
Thesis type: Master's thesis
Tutor: Sipola, Sakari
Reviewer: Sipola, Sakari
Hurmelinna-Laukkanen, Pia


It is evident that high-growth firms are getting attention from the researchers. But there is still a gap in defining high-growth firms as there is scattered data available for defining high-growth firms with respect to its characteristics. The purpose of this study is to find out the inner qualities of high growth firms that differentiate them from other firms due to which, it is called high-growth firms. Previous researches have mainly focused on high-growth firms with respect to job creation only. Also, researches have emphasized on the firm-specific features of high-growth firms such as size, age, and industry. As high growth firms play an important role to support economic growth and raise the employment level in the country so it is very important to further research on it due to which it stands out as compared to other companies in the entrepreneurial ecosystem.

This research is a qualitative study. Data is gathered by semi-structured interviews. All the interviewees were personnel from Finnish high-growth firms and had several years of experience in their field. In this study, internal characteristics are highlight based on the contemporary literature such as the growth vision: the identified opportunities or needs: the strategic management, partnerships or the inter-organizational relations,innovation and R&D, capabilities, entrepreneurial teams: entrepreneur characteristics, and human resource management practices: human capital.

From the finding of the research Finnish high-growth firms in the metropolitan area have similar internal features which help the firms to grow. Moreover, there are some features which are also positively correlated such as 1) entrepreneurial teams and entrepreneur characteristics, 2) entrepreneurial teams, human capital, and Strategic management, 3) human resource management practices and human capital, and 4) partnerships or inter-organizational relations, capabilities and identified opportunities. Hence, it is empirically proven that High-growth firms possess these characteristics and some are positively correlated to each other. Further, the findings of the study are similar to the extant literature. The limitations and future studies are also discussed.

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