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고성장기업에 대한 실증연구의 최근 동향

Recent Trends in Empirical Research on High-growth Firms

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초록

최근 고성장기업에 대한 높은 관심과 활발한 연구가 이루어지고 있는 것을 한마디로 요약하면, 일자리 창출과 관련 있다. 하지만 고성장기업에 대한 합의된 정의의 부재, 높은 결측률과 낮은 생존율 등과 같은 기업데이터가 갖는 특성으로 인해 고성장기업에 대한 실증 분석 결과는 강건성(robustness)을 보이지 못하고 있다. 이러한 문제는 고성장기업에 대한 잘못된 인식과 정책제언으로 이어지는 경향을 보이고 있다. 따라서 본 연구에서는 고성장기업에 대한 실증연구에서 직면하는 방법론적·통계적 장애물들을 살펴보았다. 또한 이러한 문제점들을 부분적으로 극복하면서 이루어진 고성장기업에 대한 실증연구 결과를 통해 기존 고성장기업의 특징이라고 잘못 알려진 상식으로 어떤 것들이 있는지 살펴보았다. 그리고 마지막으로 기존 논의를 종합하여 고성장기업관련 지원정책에 대해 제언하였다.

Abstract

Recently growing interests and extensive research on the high growth firms are highly associated with job creations. Notably, the main causes not to grasp robust empirical results of high growth firms are attributed to the lack of conformity of definition on high growth firms as well as the proper characteristics of the firm data just as 1) high rate in missing data and 2) low survival rate of firms. The dearth of the robust empirical results has been driven inappropriate policy proposal and distorted perception regarding high growth firms. Thereby, this study is contributed to discussing both methodological and statistical obstacles in which high growth firms are mainly confronted in terms of empirical research. This paper also explores the extent to which distorted knowledge on the relatively stylized facts of high growth firm while investigating the high growth firms that successfully overcome the difficulties above. Lastly, concluding remark is concerned with a suggestion of well-defined policy for supporting high growth firms.

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