Connecting Sustainability and Growth in Small Firms: Does it Pay Off?

Valery Chistov, Nekane Aramburu, Iñaki Peña-Legazkue, Pauline Weritz, María Eugenia Fabra Florit

Research output: Contribution to conferencePaperpeer-review

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Objectives: Explore the relationship between sustainability orientation and business growth in the young and mature small firms.

Theoretical Framework: sustainable entrepreneurship, life cycle perspective.

Method: Empirical, binomial logistic regression. The sample of 2 370 individuals from the 2019 version of the Spanish Global Entrepreneurship Monitor (GEM).

Results/Implications: The stage of the entrepreneurship life cycle matters and that only the introduction of sustainability objectives in mature small firms (rather than young ventures) significantly increases their chances to grow in terms of turnover and employment. We also find empirical evidence against combining environmental and social dimensions under one umbrella of sustainability, as each of these dimensions demonstrated distinctive behavior in our models.
Original languageEnglish
Number of pages2
Publication statusPublished - 2023
Event32nd ACEDE International Conference, ACEDE 2023: Business, Strategy and Sustainability in a Global World - University of Alicante, Alicante, Spain
Duration: 25 Jun 202327 Jun 2023
Conference number: 32


Conference32nd ACEDE International Conference, ACEDE 2023
Abbreviated titleACEDE 2023


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