Prediction of Growth of Small and Medium Enterprises with the Combination of Artificial Neural Networks and Meta-Heuristic Algorithm
Subject Areas :حامد ابراهیم خانی 1 , مصطفی کاظمی 2 , Alireza Pooya 3 , Amir Mohammad Fakoor Saghih 4
1 -
2 -
3 - Ferdosi University
4 - Ferdosi University
Keywords: Firm Growth Artificial Neural Network Meta-heuristic algorithms,
Abstract :
The growth of a company is considered to be an important economic goal. Given that many small and medium enterprises do not grow into growth and fail in the early years of their operations, a predictive system of corporate growth can be offset by the huge costs Starting businesses, entrepreneurs and companies to pay. Accordingly, the purpose of this study was to predict the growth of small and medium enterprises with the combination of neural network and meta-heuristic algorithms. The purpose of this research was applied and based on the method of doing descriptive-modeling work. Statistical population of this research was all small and medium enterprises of Zanjan province. Statistical sample size According to the growth of companies, 158 companies has been designated. In order to collect data in this study, interviews, questionnaires and documents of companies have been used. Validity and reliability of the questionnaire were verified and and using Cronbach's alpha coefficient. In order to analyze the research data using confirmatory factor analysis methods, the neural network of multilayer perceptron, neural network combined with genetic algorithm and neural network combined with particle swarm algorithm have been used. The results show that all three methods are able to predict the growth of the company. Among these three methods, the best predictive method for growth of the company is the neural network combined with the particle swarm algorithm with the least error rate compared to the other two methods.
سپهری، مهدی؛ ایلدرومی، علی¬رضا؛ حسینی، سید زین¬العابدین؛ نوری، حمید؛ محمدزاده، فاطمه و آرتیمانی، محمد مهدی(1396)، الگوریتم ترکیبی شبکه عصبی و ژنتیک راهی برای برآورد دبی سیلاب، علوم و مهندسی آبخیزداری ایران، 11(39)، 23-28.
عمرانی، هاشم؛ ادبی، فرزانه و ادبی، نرگس(1395)، ارائه الگوريتم چند هدفه تجمع ذرات براي انتخاب پروژه در شرايط عدم قطعیت، 27(2)، 130-141.
فرنودی، صنم السادات؛ قاضی نوری، سید سپهر؛ رادفر، رضا و طباطبائیان، حبیب-ا...(1396)، واکاوي عوامل رشد شرکت هاي دانش بنیان در ایران با رویکرد تبیین مسیرهاي ممکن، سیاست علم و فناوری، 9(2)، 49-65.
کاردان، بهزاد؛ لاری دشت بیاض، محمود و منصوری، مرتضی(1395)، بررسی تأثیر تجدید ارائۀ صورتهای مالی بر رشد شركتها، دانش حسابداری، 7(24)، 91-111.
کاظمی، مریم؛ حیدری، عقیله و لشکری، محمد(1396)، بکارگيري الگوريتم هاي ازدحام ذرات و جستجوي ممنوعه در انتخاب سبد دارایی، پژوهش¬های نوین در ریاضی، 3(9)، 97-102.
کشتکار، محمد مهدی و طالبی¬زاده، اصغر(1396)، طراحی بهینه خطوط لوله با استفاده از الگوریتم بهینه سازي چندهدفه ازدحام ذرات(MOPSO)، فرایند نو، (59)، 78-91.
مرادی¬پور، حجت¬اله و حسین¬لو، حمید(1390)، شناسايي عوامل مؤثر در رشد سريع شركت ها: مطالعه موردى شركت بهستان دارو، رشد فناوری، 8(29)، 55-62.
منهاج، محمدباقر(1395)، مبانی شبکههای عصبی هوش محاسباتی، جلد اول، چاپ یازدهم، تهران: دانشگاه صنعتی امیرکبیر.
Abrar-ul-haq, M., Jali, M. R. M., & Islam, G. M. N. (2015). Factors affecting small and medium enterprises (SMEs) development in Pakistan. American-Eurasian Journal of Agricultural & Environmental Sciences, 15(4), 546-52.
Achtenhagen, L., Brunninge, O., & Melin, L. (2017). Patterns of dynamic growth in medium-sized companies: Beyond the dichotomy of organic versus acquired growth. Long Range Planning, 50(4), 457-471.
Almeida, P., & Kogut, B. (1997). The exploration of technological diversity and geographic localization in innovation: Start-up firms in the semiconductor industry. Small Business Economics, 9(1), 21-31.
Azadeh, A., Saberi, M., Moghaddam, R. T., & Javanmardi, L. (2011). An integrated data envelopment analysis–artificial neural network–rough set algorithm for assessment of personnel efficiency. Expert Systems with Applications, 38(3), 1364-1373.
Barringer, B. R., & Harrison, J. S. (2000). Walking a tightrope: Creating value through interorganizational relationships. Journal of management, 26(3), 367-403.
Barringer, B. R., Jones, F. F., & Neubaum, D. O. (2005). A quantitative content analysis of the characteristics of rapid-growth firms and their founders. Journal of business venturing, 20(5), 663-687.
Baum, J. R., Locke, E. A., & Smith, K. G. (2001). A multidimensional model of venture growth. Academy of management journal, 44(2), 292-303.
Bibu, N. A., & Sala, D. C. (2014). Aspects of fast growth in Romanian companies. The case of a successful company in Timis county. Procedia-Social and Behavioral Sciences, 124, 263-271.
Birch, D. (1987). Job creation in America: How our smallest companies put the most people to work.
Bouazza, A. B., Ardjouman, D., & Abada, O. (2015). Establishing the factors affecting the growth of small and medium-sized enterprises in Algeria. American International journal of Social science, 4(2), 101-115.
Brown, S. (2007). Seven skills for the aspiring entrepreneur. Business & Economic Review, 53(2), 16-18.
Cancino, C. A., Bonilla, C. A., & Vergara, M. (2015). The impact of government support programs for the development of businesses in Chile. Management Decision, 53(8), 1736-1754.
Capron, L., & Mitchell, W. (2010). Finding the right path. Harvard Business Review, 88(7-8), 102-107.
Chang, J., & Xu, X. (2008, June). Applying neural network with particle swarm optimization for energy requirement prediction. In Intelligent Control and Automation, 2008. WCICA 2008. 7th World Congress on (pp. 6161-6163). IEEE.
Cohen, W. M., & Levinthal, D. A. (2000). Absorptive capacity: A new perspective on learning and innovation. In Strategic Learning in a Knowledge economy (pp. 39-67).
Colombo, M. G., & Grilli, L. (2005). Founders’ human capital and the growth of new technology-based firms: A competence-based view. Research policy, 34(6), 795-816.
Cunneen, D. J., & Meredith, G. G. (2007). Entrepreneurial founding activities that create gazelles. Small Enterprise Research, 15(1), 39-59.
Daunfeldt, S. O., Elert, N., & Johansson, D. (2010). The economic contribution of high-growth firms: Do definitions matter. Ratio working papers, 151, 1-20.
Davidsson, P., Achtenhagen, L., & Naldi, L. (2005). Research on small firm growth: A review. 1-27.
Dayhoff, J. E. (1990). Neural network architectures: an introduction. Van Nostrand Reinhold Co..
Deb, K., & Beyer, H. G. (2001). Self-adaptive genetic algorithms with simulated binary crossover. Evolutionary Computation, 9(2), 197-221.
Delmar, F., Davidsson, P., & Gartner, W. B. (2003). Arriving at the high-growth firm. Journal of business venturing, 18(2), 189-216.
Demirez, M. (2018). High Growth Firms: A Policy Option in Turkey. In Innovation and the Entrepreneurial University (pp. 145-171). Springer, Cham.
Donckels, R., & Lambrecht, J. (1995). Joint ventures: No longer a mysterious world for SMEs from developed and developing countries. International Small Business Journal, 13(2), 11-26.
Doorley, T., & Donovan, J. (1999). Value-creating growth. San Francisco: Jossey-Bass.
Duchesneau, D. A., & Gartner, W. B. (1990). A profile of new venture success and failure in an emerging industry. Journal of business venturing, 5(5), 297-312.
Eberhart, R., & Kennedy, J. (1995, October). A new optimizer using particle swarm theory. In Micro Machine and Human Science, 1995. MHS'95., Proceedings of the Sixth International Symposium on (pp. 39-43). IEEE.
Ebrahimi, M., & Arshadi, A. (2014). The Effect of the Behavioral Elements on the Growth of Iranian Firms. Journal of Money and Economy, 9(4), 31-48.
Fadahunsi, Akin. "The growth of small businesses: Towards a research agenda." American Journal of Economics and Business Administration 4.1 (2012): 105.
Farrokh, S., Kordnaeij, A., & Reza Zali, M. (2016). Factors Affecting the Growth of Small and Medium-Sized Enterprises. Ijaber, 14(10), 6199-6216.
Gerhart, B., & Milkovich, G. T. (1990). Organizational differences in managerial compensation and financial performance. Academy of Management journal, 33(4), 663-691.
Gilbert, B. A., McDougall, P. P., & Audretsch, D. B. (2006). New venture growth: A review and extension. Journal of management, 32(6), 926-950.
Harrison, J., Taylor, B., 1997. Super Growth Companies. Oxford 7 Reed Educational and Professional Publishing.
Hashi, I., & Krasniqi, B. A. (2011). Entrepreneurship and SME growth: evidence from advanced and laggard transition economies. International Journal of Entrepreneurial Behavior & Research, 17(5), 456-487.
Henrekson, M., & Johansson, D. (2010). Gazelles as job creators: a survey and interpretation of the evidence. Small Business Economics, 35(2), 227-244.
Janczak, S. M., & Barès, F. (2010). High growth SMEs: The evolution of the gazelles and some evidence from the field. HEC Montréal, Chaire d'entrepreneuriat Rogers-J.-A. Bombardier.
Kim, W. C., & Mauborgne, R. (1997). Value innovation: The strategic logic of high growth. Harvard Business School Pub..
Kolvereid, L. (1992). Growth aspirations among Norwegian entrepreneurs. Journal of business venturing, 7(3), 209-222.
Krasniqi, B. A. (2012). Building an expanded small firm growth model in a transitional economy: Evidence on fast growing firms. Journal of East-West Business, 18(3), 231-273.
Krasniqi, B. A. (2012). Building an expanded small firm growth model in a transitional economy: Evidence on fast growing firms. Journal of East-West Business, 18(3), 231-273.
Kutllovci, E., Shala, V., & Troni, B. (2012). Business Strategy, the key determinants of SME growth in Kosovo. International Journal of Advances in Management and Economics, ISSN, 2278-3369.
Lee, C. Y. (2010). A theory of firm growth: Learning capability, knowledge threshold, and patterns of growth. Research Policy, 39(2), 278-289.
Littunen, H., & Tohmo, T. (2003). The high growth in new metal-based manufacturing and business service firms in Finland. Small Business Economics, 21(2), 187-200.
MacMillan, I. C., & Day, D. L. (1987). Corporate ventures into industrial markets: Dynamics of aggressive entry. Journal of business venturing, 2(1), 29-39.
Mamburu, M. (2017). Defining high-growth firms in South Africa (No. 2017/107). WIDER Working Paper
McKelvie, A., & Wiklund, J. (2010). Advancing firm growth research: A focus on growth mode instead of growth rate. Entrepreneurship theory and practice, 34(2), 261-288.
Moreno, A. M., & Casillas, J. C. (2007). High-growth SMEs versus non-high-growth SMEs: a discriminant analysis. Entrepreneurship and regional development, 19(1), 69-88.
Nicholls-Nixon, C. L. (2005). Rapid growth and high performance: The entrepreneur's “impossible dream?”. The Academy of Management Executive, 19(1), 77-89.
Nichter, S., & Goldmark, L. (2009). Small firm growth in developing countries. World development, 37(9), 1453-1464.
OECD, (2005), Economic Outlook, Annual competitiveness reports Eurostat& OECD
Oliver, R. L., & Anderson, E. (1995). Behavior-and outcome-based sales control systems: Evidence and consequences of pure-form and hybrid governance. Journal of Personal Selling & Sales Management, 15(4), 1-15.
Ortega, J. A. Á., Blanco, J. L. Y., & Cangahuala, G. (2016). El capital social y la planificación adaptativa en una comunidad industrial innovadora del Perú. Estudios Gerenciales, 32(139), 162-169.
Petersen, D. R., & Ahmad, N. (2007). High-growth enterprises and gazelles–preliminary and summary sensitivity analysis. Retrieved October, 15, 2014.
Petersen, D. R., & Ahmad, N. (2007). High-growth enterprises and gazelles–preliminary and summary sensitivity analysis. Retrieved October, 15, 2014.
Rahaman, M. M. (2011). Access to financing and firm growth. Journal of Banking & Finance, 35(3), 709-723.
Robbins, S. (1998). Organization theory: Concepts and cases. Sydney: Prentice-Hall.
Rocha, V. C. B. (2014). Entrepreneurship dynamics: Entry, survival and firm growth (Doctoral dissertation, Universidade do Porto (Portugal)).
Román, J. J., Cancino, C. A., & Gallizo, J. L. (2017). Exploring features and opportunities of rapid-growth wine firms in Chile. Estudios Gerenciales, 33(143), 115-123.
Sadorsky, P. (2006). Modeling and forecasting petroleum futures volatility. Energy Economics, 28(4), 467-488.
Sapienza, H. J., & Grimm, C. M. (1997). Founder characteristics, start-up process, and strategy/structure variables as predictors of shortline railroad performance. Entrepreneurship Theory and Practice, 22(1), 5-24.
Singer, B. (1995). Contours of development. Journal of Business Venturing, 10(4), 303-329.
Soltani-fesaghandis, G., Pooya, A., Kazemi, M. & Naji-azimi, Z.(2017), Comparison of Multilayer Perceptron and Radial Basis Function Neural Networks in Predicting the Success of New Product Development, Engineering, Technology & Applied Science Research, 7(1), 1425-1428.
Storey, D. J. (2016). Understanding the small business sector. Routledge.
Suresh, A., Harish, K. V., & Radhika, N. (2015). Particle swarm optimization over back propagation neural network for length of stay prediction. Procedia Computer Science, 46, 268-275.
Zhu, H., Wang, Y., Wang, K., & Chen, Y. (2011). Particle Swarm Optimization (PSO) for the constrained portfolio optimization problem. Expert Systems with Applications, 38(8), 10161-10169.