A great deal of theoretical and empirical work has been performed on firm growth following Edith Penrose's (1959) classic book, but there is growing concern among researchers and practitioners about the relevance of research as the business environment becomes increasingly dynamic. This Special Issue is motivated by concerns surrounding the need to rethink established theories of firm growth in the face of blurring boundaries among markets and technologies, increased competition, innovation, and intense competitive dynamics. Comprised of six articles, the Special Issue examines growth in a variety of ways and across industries and types of firms, showing how firm choices for pursuing growth extend beyond the dichotomy between internal and external growth. The contributions include a review of existing literature and new ideas on the role of human capital on firm growth, such as recruiting and retaining the right people, or developing managerial capabilities to direct limited resources to more productive uses. The impact of regulatory policies, industry life-cycle, and venture capital on firm growth are also investigated in novel ways.
- 512 Business and Management