What makes firms perform well

摘要: In this paper, we investigate the role of three external factors in generating improved productivity performance companies. These are product market competition, financial pressure and shareholder control. We have found, using data from around 580 UK manufacturing companies, that all these associated with some degree increased growth. More specifically, average rents normalised on value-added (an inverse measure competition) negatively related to (total factor) growth, interest payments cash flow positively future growth firms a dominant sector higher rates. Furthermore, there is evidence suggest last two can substitute for competition.