CompCode: Categorization of the companies into three categories as a result of the anonymous nature of the research: 1) G01-G37 is a test group of high-growth companies; 2) M01-M37 is a group of matching pair companies with low or no growth (the first control group); 3) S01-S70 is a group consisting of all companies that are members of Finnish technology industries and belong to the turnover bracket of €15.6 to €72.3 million but which are not found in either G or M groups.
Control Variable(s):
Age15, Age16, Age17, Age18: Time period from the registration date of a company to the Trade Register of Finland in years with one decimal in the year indicated.
Independent Variables:
Pers15, Pers16, Pers17, Pers18: The number of personnel at the end of the year indicated.
PG1814, PG1816, PG1817, PG1716, PG1715, PG1614, PG1615, PG1514:
Personnel growth of the company in percentage between the years indicated.
Example calculation: PG1814 = (Pers18 – Pers14) / Pers14 * 100 (see above) TO15, TO16, TO17, TO18: The turnover of the company in euros in the fiscal year indicated.
TOG1814, TOG1816, TOG1817, TOG1716, TOG1715, TOG1614, TOG1615, TOG1514: The turnover growth of the company between the years indicated in percentage.
Example calculation: TOG1814 = (TO18 – TO14) / TO14 * 100, where TO18 is the turnover in 2018 and TO14 is the turnover in 2014.
TOP15, TOP16, TOP17, TOP18: The turnover in personnel in euros for the year indicated.
TOPG1814, TOPG1816, TOPG1817, TOPG1716, TOPG1715, TOPG1614, TOPG1615, TOPG1514: The turnover in personnel growth in percentages between the years indicated.
EBTDAe15, EBTDAe16, EBTDAe17, EBDTAe18: The company earnings before income tax and depreciation in the year indicated in euros.
EBTDAp15, EBDTAp16, EBTDTAp17, EBTDAp18: The company earnings before income tax and depreciation in the year indicated in turnover percentage.
VA15, VA16, VA17, VA18: Value add of the company per person in euros in the year indicated.
Example calculation: VA15 = (TO15 – Purchases15) / Pers15 * 100, where TO15 is the turnover of the company in a fiscal year and Purchase15 is the value of raw materials that the company has used for production, which is generating the turnover. Pers15 are the company personnel in fiscal year 15.
ROA15, ROA16, ROA17, ROA18: Return on Assets in the fiscal year indicated in percentage.
Example calculation: ROA15 = (NET15 + INT15 * (1 – TAX%)) / BAL15, where NET15 is the net result, in euros, for the year 2015, INT15 are the interest expenses for the year 2015, TAX% is the corporate tax paid and BAL15 is the sum of the balance sheet in euros.
ROAG1814, ROAG1816, ROAG1817, ROAG1716, ROAG1715, ROAG1614, ROAG1615, ROAG1514: The growth percentage of the ROA between the years indicated.
EQR15, EQR16, EQR17, EQR18: The equity ratio in percentage in the fiscal year indicated.
Example calculation: EQR15 = EQU15 / (BAL15 – ADV15) * 100, where EQU15 is the equity, in euros, for 2015, BAL15 is the sum of the balance sheet and ADV15 are the advance payments in euros.
Dummy variables:
ProdServ = 1 for the product company and = 0 for the service company. Product company is defined as a company in which more than 50% of the turnover consists of products. If 50% or less of the turnover consists of products, then a company is defined as a service company.
GrwthCo = 1 for the growth company category, else = 0; NonGrwthCo = 1 for the matching pair company category, else = 0; OtherCo = 1 for other companies, else
= 0.
Dependent Variables:
Relative Impact Scores:
NetScore: The sum of all positive and negative scores in the net impact model (upright.com, 2019) in relative numbers.
E = The sum of positive and negative environmental scores.
H = The sum of positive and negative health scores.
S = The sum of positive and negative societal scores.
K = The sum of positive and negative knowledge creation scores.
EP = The sum of positive environmental scores.
EN = The sum of negative environmental scores.
SP = The sum of positive societal scores.
SN = The sum of negative societal scores.
KP = The sum of positive knowledge creation scores.
KN = The sum of negative knowledge creation scores.
E1N = The negative score of GHG emissions (excessive GHG emissions).
E1P = The positive score of GHG emissions (the production reduces GHG emissions or the product or service solves the GHG-emission problem).
E2N = The negative score of non-GHG emissions (excessive non-GHG emissions).
E2P = The positive score of GHG emissions (the production reduces non-GHG emissions or the product or services solves the non-non-GHG-emission problem).
E3N = The negative score of freshwater usage (the production causes excessive freshwater usage).
E3P = The positive score of freshwater usage (the production saves fresh water or has a solution for saving water).
E4N = The negative score of biodiversity the company products or services reduce biodiversity).
E4P = The positive score of biodiversity (the company products or services help increase biodiversity).
E5P = Positive score of waste creation (the company products or services cause reduced waste generation or solve the waste problem).
E5N = The negative score of waste creation (the company products or services cause excessive waste generation).
H1N = The negative score of diseases (the company products or services cause diseases).
H1P = The positive score of diseases (the company products or services cure or prevent diseases).
H2N = The negative score of physical activity (the company products or services decrease physical activity).
H2P = The positive score of physical activity (the company products or services activate physical activity).
H3N = The negative score of diet (unhealthy diet).
H3P = The positive score of diet (healthy diet).
H4N = The negative score of relationships.
H4P = The positive score of relationships.
H5N = The negative score of meaning and joy.
H5P = The positive score of meaning and joy.
S1P = The positive score of taxes (the assumption of the model—the company tax footprint can only be positive).
S2P = The positive score of jobs (the assumption of the model—the company always employs somebody).
S3P = The positive score of societal infrastructure (the assumption of the model—
the company contribution to societal infrastructure can only be positive).
S4N = The negative score of equality (the company products or services reduce equality).
S4P = The positive score of equality (the company products or services strengthen equality).
S5N = The negative score of societal stability (the assumption of the model—only reducing the societal stability built in the model).
K1N = The negative score of scarce human capital (the assumption of the model—
the company can approach zero only by employing, for example, non-educated persons, immigrants or other minorities).
K2P = The positive score of knowledge infrastructure (the assumption in the model—the company can only create knowledge infrastructure, not destroy it).
K3P = The positive score of creating knowledge (the assumption in the model—the company can only create knowledge, not destroy it).
K4P = The positive score of distributing knowledge (the assumption in the model—
the company can only distribute knowledge).
Absolute impact scores
NScoreA: The sum of all the positive and negative scores in absolute numbers in the net impact model (upright.com, 2019).
EA = The sum of positive and negative environmental scores.
HA = The sum of positive and negative health scores.
SA = The sum of positive and negative societal scores.
KA = The sum of positive and negative knowledge creation scores.
EPA = The sum of positive environmental scores.
ENA = The sum of negative environmental scores.
SPA = The sum of positive societal scores.
SNA = The sum of negative societal scores.
KPA = The sum of positive knowledge creation scores.
KNA = The sum of negative knowledge creation scores.
E1NA = The negative score of GHG emissions (excessive GHG emissions).
E1PA = The positive score of GHG emissions (the production reduces GHG emissions or the product or service solves the GHG-emission problem).
E2NA = The negative score of non-GHG emissions (excessive non-GHG emissions).
E2PA = The positive score of GHG emissions (the production reduces non-GHG emissions or the product or services solves the non-non-GHG-emission problem).
E3NA = The negative score of freshwater usage (the production causes excessive freshwater usage).
E3PA = The positive score of freshwater usage (the production saves fresh water or has a solution for saving water).
E4NA = The negative score of biodiversity (the company products or services reduce biodiversity).
E4PA = The positive score of biodiversity (the company products or services help increase biodiversity).
E5NA = The negative score of waste creation (the company products or services cause reduced waste generation or solve the waste problem).
E5PA = The positive score of waste creation (the company products or services cause excessive waste generation).
H1NA = The negative score of diseases (the company products or services cause diseases).
H1PA = The positive score of diseases (the company products or services cure or prevent diseases).
H2NA = The negative score of physical activity (the company products or services decrease physical activity).
H2PA = The positive score of physical activity (the company products or services activate physical activity).
H3NA = The negative score of diet (unhealthy diet).
H3PA = The positive score of diet (healthy diet).
H4NA = The negative score of relationships.
H4PA = The positive score of relationships.
H5NA = The negative score of meaning and joy.
H5PA = The positive score of meaning and joy.
S1PA = The positive score of taxes (the assumption of the model—the company tax footprint can only be positive).
S2PA = The positive score of jobs (the assumption of the model—the company always employs somebody).
S3PA = The positive score of societal infrastructure (the assumption of the model—
the company contribution to societal infrastructure can only be positive).
S4NA = The negative score of equality (the company products or services reduce equality).
S4PA = The positive score of equality (the company products or services strengthen equality).
S5NA = The negative score of societal stability (the assumption of the model—only reducing the societal stability built in the model).
K1NA = The negative score of scarce human capital (the assumption of the model—the company can approach zero only by employing, for example, non-educated persons, immigrants or other minorities).
K2PA = The positive score of knowledge infrastructure (the assumption in the model—the company can only create knowledge infrastructure, not destroy it).
K3PA = The positive score of creating knowledge (the assumption in the model—
the company can only create knowledge, not destroy it).
K4PA = The positive score of distributing knowledge (the assumption in the model—the company can only distribute knowledge).