• Journal of the Korea Academia-Industrial cooperation Society
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• v.15 no.5
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• pp.2821-2830
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• 2014

This study was carried out to define gazelle industry through preceded research for gazelle firm & gazelle region, in order to discover high-growth industries. Gazelle industry is 'employees per company is more than ten people, and over the past five years, within top 10% by Birch employment growth index'. According to the definition of gazelle industry, Chungnam gazelle 105 industries were chosen. Then, analyzed whether Chungnam gazelle industries has competitiveness compared with nation and each city of Chungnam. In addition, typology to industrial development stage was devised by developing of business scale quotient(BQ) and industrial growth rate(IG). And development strategies of Chungnam gazelle industries was proposed case by industrial development stage.

• Asian Journal of Innovation and Policy
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• v.10 no.3
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• pp.330-354
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• 2021

To know the long-term growth patterns and determinants of successful startups, 15-year (2006-2020) panel data of 252 companies that had a growth rate of over 20% every year in the last three years were used. In the first analysis, statistics on the period required to designate a gazelle company or listed on the stock market were examined. In addition, five long-term growth patterns were presented. In the panel analysis, the R&D intensity, operating profit ratio, size, and age of the company were pointed out as determinants of growth. The operating profit margin and R&D intensity have a positive effect on growth. Gibrat's law was not supported, but an inverted U-shape was observed. Jovanovic's law was confirmed. Although many studies tend not to point to profitability as a determinant of long-term growth, this is an important long-term growth factor of a company. The operating profit ratio was used in this study.

• Asia-Pacific Journal of Business Venturing and Entrepreneurship
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• v.19 no.4
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• pp.115-125
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• 2024

This study defined the appraisal items of technology appraisal for investment as innovation characteristics and derived the determining factors for predicting high-growth companies. Through this, we presented a direction for improving the technology appraisal model for investment. High-growth companies were classified into high-growth companies in sales, high-growth companies in operating profit, and high-growth companies in both sales and operating profit. At this time, the concept of a gazelle company was applied and defined as a company with an average growth rate of 20% or more over three years after the appraisal year. As for the analysis results, in terms of technicality (appraisal items), it was significant in predicting high-growth companies in sales and high-growth companies in sales and operating profit. Therefore, it will be possible to increase the discrimination power of predictions by strengthening the technicality (appraisal items). On the other hand, the business feasibility (appraisal items) was significant in predicting high-growth companies in sales and high-growth companies in sales and operating profit, but in a negative direction. This is due to the composition and criteria of the business feasibility (appraisal items), and it was concluded that changes to the composition and criteria for the relevant items are necessary for future model improvement.