Using firm-level data, we analyse the patterns, innovation characteristics and determinants of turnover high-growth firms (HGFs) in Australia. We find most HGFs do not stay in the high-growth phase for long, and following the Global Financial Crisis the proportion of HGFs has declined. For HGFs, the results suggest that innovation in goods and services has a much greater impact on turnover growth than for the average firm. For all firms, innovations in goods and services and marketing, and business focus on innovation contribute to turnover growth. Finally, HGFs generate greater returns on investment in research and development than slower growing firms.

中文翻译：

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是什么推动了高增长？澳大利亚公司的特点

使用公司层面的数据，我们分析了澳大利亚营业额高增长公司 (HGF) 的模式、创新特征和决定因素。我们发现大多数 HGF 不会长时间处于高增长阶段，并且在全球金融危机之后，HGF 的比例有所下降。对于 HGF，结果表明，商品和服务创新对营业额增长的影响比一般公司大得多。对于所有公司而言，商品和服务以及营销方面的创新以及企业对创新的关注都有助于营业额增长。最后，与增长缓慢的公司相比，HGF 在研发方面的投资回报更高。