Large firm dynamics on the Nordic-Baltic scene. Implications for innovation and growth

This report is the result of a joint Nordic project funded by NICe – Nordic Innovation Centre. Focus is on the largest firms operating from Sweden, Finland, Denmark and Norway. In addition the largest firms of Estonia are included.

The report documents that the 30 largest firms from all of these Nordic countries have expanded their business operations globally during 1996-2006, and that the largest firms on average have experienced a higher growth rate than the economy of their home country. The growth of the largest firms has primarily taken place abroad, i.e. outside their home country. Actually, the relative magnitude of their domestic operations has actually decreased when compared to their home country economy.

The largest firms operating in Estonia are to a large extent subsidiaries of firms originating in Sweden and Finland, and consequently more oriented towards the Estonian economy.