Determinants of Firms' Growth from Cross-Country Comparisons

초록

This paper explores the determinants of growth of firms in Romania, Hungary and Slovenia. We investigate whether there exist common factors which can explain the growth of firms within these three countries. Our empirical analysis reveals that old and exporting firms tend to grow more quickly in Romania and foreign owned firms tend to perform better than domestic firms in Slovenia. Additionally, we found that firm age, size, ownership, exporting does not appear to be significantly different for Hungary in comparison to Romania and Slovenia. Our findings suggest that determinants of a firm’s growth may different across countries and that policy-makers should take these differences into consideration when promoting firms’ growth.

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