2015
DOI: 10.22495/cocv12i2c2p5
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Corporate governance in high-growth firms

Abstract: The purpose of this paper is to explore the governance structures in high-growth firms – “Gazelles”. We analyse and compare 865 high-growth firms and 396 SMEs in Norway. The data reveals that high-growth firms differ from average SMEs on several core characteristics. They are smaller and younger, and have more owners and larger boards than the average SME. The analysis shows that high-growth firms are a special case where owners and managers appear to have shared interests, and the strategic and advisory role … Show more

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Cited by 2 publications
(3 citation statements)
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“…Access to CG resources has an impact on small firms’ ability to innovate and grow (de Cleyn and Braet, 2012). However, there is evidence that high-growth firms do not need the monitoring functions of the board (Ladegard and Rasmussen, 2015). This is presumably because many high-growth SMEs are owner-managed.…”
Section: Discussion and Future Researchmentioning
confidence: 99%
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“…Access to CG resources has an impact on small firms’ ability to innovate and grow (de Cleyn and Braet, 2012). However, there is evidence that high-growth firms do not need the monitoring functions of the board (Ladegard and Rasmussen, 2015). This is presumably because many high-growth SMEs are owner-managed.…”
Section: Discussion and Future Researchmentioning
confidence: 99%
“…The literature on the alliances formed between SMEs and entities from other sectors, largely motivated by the need of resources (Alvarez et al , 2006; Ariño et al , 2008; Dickson et al , 2006; Marino et al , 2008), also offers some options for structuring alternative boards. Ladegard and Rasmussen (2015) pose some useful questions about the roles of independent directors in SMEs: do they act individually or in a group? Do they have specific roles to play?…”
Section: Discussion and Future Researchmentioning
confidence: 99%
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