Latvian and Lithuanian gazelles: characteristics and comparison

Abstract

This study analyses Lithuanian and Latvian high-growth, or so-called gazelle companies. Literature analysis is used for conceptual overview of the fast-growing companies and growth measurement methods. Purpose of this study is to identify the main characteristics of gazelle companies in Latvia and Lithuania by using secondary quantitative financial data and comparative analysis methods. These shared attributes indicate that high-growth companies usually are concentrated in certain economic sectors and have similar business composition, although with different efficiency levels. This similarity between different countries’ fast growing companies indicates that growth can be predicted by different environmental variables and is not random.