Variation in managerial motivation has been suggested to have important implications on all phases of the entrepreneurial process (Tominc & Rebernik, 2007), and especially firm growth (e.g., Delmar & Wiklund, 2008; Greve, 2008). Analyzing the growth motivation –growth relationship needs to account for potential endogeneity. Accordingly, Delmar & Wiklund (2008) apply a crosslagged regression analysis to account for potential feedback loops between growth motivation and growth. However, this study was relatively limited since instead of a longer cross-lagged model, only two years were used and the model was estimated with the limiting assumption that there are no unmodeled common causes for growth and growth motivation.