Title: Key determinants for growth in high-growth Ecuadorian manufacturing firms

Authors: Luis Enrique Simbaña-Taipe; Diana Carolina Ushiña Mullo; Marcela Salas Chuquin; Ximena Morales-Urrutia; María Isabel Sánchez

Addresses: Departamento de Ciencias Económicas, Administrativas y de Comercio, Universidad de Las Fuerzas Armadas ESPE, Av. General Rumiñahui s/n, Sangolquí, 171-5-231B, Ecuador ' Departamento de Ciencias Económicas, Administrativas y de Comercio, Universidad de Las Fuerzas Armadas ESPE, Av. General Rumiñahui s/n, Sangolquí, 171-5-231B, Ecuador ' Departamento de Ciencias Económicas, Administrativas y de Comercio, Universidad de Las Fuerzas Armadas ESPE, Av. General Rumiñahui s/n, Sangolquí, 171-5-231B, Ecuador ' Centro de Investigación en Empresa, Sociedad y Tecnología, Facultad de Ciencias Administrativas y Económicas, Universidad Tecnológica Indoamérica, Bolivar 2035 y Guayaquil, 180103, Ambato, Ecuador ' Departamento de Ciencias Económicas, Administrativas y de Comercio, Universidad de Las Fuerzas Armadas ESPE, Av. General Rumiñahui s/n, Sangolquí, 171-5-231B, Ecuador

Abstract: High-growth firms (HGFs) have awakened the interest of policymakers, especially on their contribution to increasing employment index. The aim of this research is to determine the key factors that influence the development of high-growth manufacturing companies in Ecuador. The research evaluated a sample of 143 HGFs between 2010 and 2015; the methodology of panel quantile regression was applied. The findings show that leverage, profitability, innovation, liquidity, solvency, and size have a positive impact on the growth rate of HGFs. Meanwhile, the age variable has a negative relationship in the equation. The results of this study provide solid elements to discuss and promote public and business policies in developing countries.

Keywords: innovation; high-growth firms; HGFs; panel quantile regressions; manufacturing companies; Ecuador.

DOI: 10.1504/IJMED.2019.102756

International Journal of Management and Enterprise Development, 2019 Vol.18 No.4, pp.293 - 315

Received: 28 Jan 2019
Accepted: 31 Mar 2019
Published online: 02 Oct 2019 *

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