Abstract
ABSTRACT High growth firms receive a lot attention from policy and academia. In this paper we investigate the general validity of an investor startup database in studying high growth firms and growth persistence. To do so, we match Dutch administrative firm level panel data with this startup database. We establish two main facts. First, although the vast majority of high growth firms in the Dutch economy does not appear in the database, included firms do have a higher probability of being a high growth firm. Second, in contrast to regular Dutch firms and previous findings in the literature, startups show a strikingly persistent growth pattern: their growth phases are prolonged. We conclude that commercial startup databases can complement more traditional data sources, but interpretation requires care due to unclear selection in the database.
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