Even though there are many theories of growth of the firm, the literature has limitations in 2 interrelated aspects. Initially, empirical evidence doesn’t match well theoretical predictions. Second, the organization growth literature doesn’t deal with the structure of knowledge both in firms and sectors and also knowledge flows between them. According to existing theoretical and empirical literature, the report describes an ‘appreciative’ theory of firm growth and offers new testable hypotheses to inform present and future empirical research.
Firm growth is actually a lately much discussed problem both in economics, as well as in strategy research. In this debate it has been purposely argued that the empirical evidence doesn’t match theoretical predictions.
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