Identifying Gazelles

A business plan competition is conducted to test whether survey instruments or panel judges are able to identify the fastest growing firms. Participants submitted six- to eight-page business plans and defended them before a three- or four-judge panel. Applicants are surveyed shortly after they applied and one and two years after the competition. Follow-up surveys are used to construct measures of enterprise growth and baseline surveys and panel scores to construct measures of enterprise growth potential. A survey measure of ability correlates strongly with future growth, but the panel scores add to predictive power even after controlling for ability and other survey variables. The survey questions have more power to explain the variance in growth. Participants presenting before the panel were given a chance to win customized management training. Fourteen months after the training, there is no positive effect of the training on growth of the business.

Bibliographic Details

Main Authors:	Fafchamps, Marcel, Woodruff, Christopher
Format:	Working Paper biblioteca
Language:	English en_US
Published:	World Bank, Washington, DC 2016-04
Subjects:	FUTURE GROWTH, LIABILITY, EQUIPMENT, RADIO ADVERTISING, ACCOUNTING, CUSTOMER, OPTIMAL SIZE, STOCK, MATERIALS, SALES, EMAIL ADDRESS, INCOME, INTEREST, CONTRIBUTION, FINANCIAL LITERACY, INTEREST RATE, SUPPLIES, DATA MINING, INFORMATION, LABOR FORCE, CALCULATIONS, ENTREPRENEURIAL SKILL, REVENUES, CONFIDENCE BOUNDS, CONSULTANTS, LOAN, RECORD KEEPING, PRICE, OWNERSHIP, TRAINING PROGRAMS, BUSINESS ASSOCIATIONS, TIME PERIOD, ENTREPRENEURIAL SKILLS, PILOT PROJECT, BUDGETING, TRAINING COURSE, INFLATION, COMPUTER, OPEN ACCESS, BUDGET, LOW‐INCOME, LITERACY, SMALL BUSINESS, CONSULTING FIRM, DATA, ADVERTISING, SAVINGS, TRAINING, WAGE, MONEY, RENT, PROBABILITY, LOGISTICS, LOAN EXPERIENCE, INDIRECT COSTS, CRITERIA, MARKETING, SCHOLARSHIP, CONSULTANT, WEB, LARGE FIRM, LENDERS, SOCIAL PROTECTION, MATERIAL, VALUABLE, APPLICATION FORM, AVERAGE GROWTH, ACCOUNT, RADIO, FINANCE, TELEPHONE, SAVINGS ACCOUNT, RESOURCES, MANUFACTURING, TRAINING COURSES, MARKETING EFFORT, BUSINESS PLAN, EXPENSES, QUESTIONNAIRE, CUSTOMER BASE, RESULTS, STARTUPS, ELECTRICITY, BANK, CREDIT, RECORD‐ KEEPING, DEMAND, WORKING CAPITAL, FINANCIAL PERFORMANCE, JOB CREATION, SALE, BALANCE SHEET, SMALL BUSINESS OWNERS, SUPPORT PROGRAMS, ANNUAL STATEMENT, SENIOR, ADMINISTRATION, RESULT, ACCESS TO CREDIT, GOVERNMENT POLICIES, ICT, BANK LOAN, INVESTOR, PURCHASE, EDUCATION, BUSINESS, BUSINESSES, INVESTMENT, LOWER‐ INCOME, PERFORMANCE, TRAINING PROGRAM, BUSINESS PLANS, REVENUE, PROFIT, BORROWING, PROTOCOL, COMMUNICATION, DIRECT MARKETING, RAPID GROWTH, CUSTOMERS, PROFITS, ANNUAL INTEREST RATE, ADVERTISEMENTS, GROWTH POTENTIAL, TARGET, EXPERT OPINION, SMALL BUSINESSES, PRICES, CASH FLOW, BUSINESS TRAINING,
Online Access:	http://documents.worldbank.org/curated/en/2016/04/26251934/identifying-gazelles-expert-panels-vs-surveys-means-identify-firms-rapid-growth-potential https://hdl.handle.net/10986/24221
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