logo
科言猫学术研究的AI总结
language
手机端手机端
  • Phone Feature微信小程序
简体中文简体中文
notice消息通知
博客博客
delete
arrow
返回

Does Going Public Affect Innovation?

delete2015-07-23
delete443
PRE
AI
B
Bernstein, Shai *
DOI：10.1111/jofi.12275delete
delete原文链接
delete原文求助
delete分享
delete收藏
摘要

摘要

En 中文
This paper investigates the effects of going public on innovation by comparing the innovation activity of firms that go public with firms that withdraw their initial public offering (IPO) filing and remain private. NASDAQ fluctuations during the book-building phase are used as an instrument for IPO completion. Using patent-based metrics, I find that the quality of internal innovation declines following the IPO, and firms experience both an exodus of skilled inventors and a decline in the productivity of the remaining inventors. However, public firms attract new human capital and acquire external innovation. The analysis reveals that going public changes firms' strategies in pursuing innovation.
Keyword:
RESEARCH-AND-DEVELOPMENT
OPERATING PERFORMANCE
STOCK-MARKET
INVESTMENT
OFFERINGS
PATENTS
IPOS
FIRM
MANAGEMENT
BOUNDARIES
AI总结

AI总结

对已上传原文的论文进行重点信息的提取，主要内容包括：简要概述、研究摘要、背景介绍、关键亮点、图文解析、展望与总结。

期刊

Journal of Finance 封面图
Journal of Finance
IF:
9.5
论文数:
4.0K
被引数:
5.0W

机构

暂无机构信息
引用论文

引用论文

The choice between firm-commitment and best-efforts offering methods in IPOs: The effect of unsuccessful offers
errJOURNAL OF FINANCIAL INTERMEDIATION
IF3.7
err1998-01-01
err65
PREAI
errDunbar, CG
err分享
err收藏
VENTURE CAPITALISTS AND THE DECISION TO GO PUBLIC风险资本家与上市决定
errJOURNAL OF FINANCIAL ECONOMICS
IF12
err1994-06-01
err506
PREAI
errLERNER, J
err分享
err收藏
University Versus Corporate Patents: A Window On The Basicness Of Invention大学与公司专利: 发明基础的窗口
errEconomics of Innovation and New Technology
IF0
err1997-01-01
err0
PREAI
errManuel Trajtenberg; Rebecca Henderson; Adam Jaffe
err分享
err收藏
A review of IPO activity, pricing, and allocations
errJOURNAL OF FINANCE
IF9.5
err2002-12-17
err1.3K
errOAAI
errRitter, JR; Welch, I
err分享
err收藏
IDENTIFICATION AND ESTIMATION OF LOCAL AVERAGE TREATMENT EFFECTS局部平均处理效果的识别和估计
errECONOMETRICA
IF7.1
err1994-03-01
err2.9K
errOAAI
errIMBENS, GW; ANGRIST, JD
err分享
err收藏
The promotion of Raney nickel catalysts
errJournal of the Chemical Society (Resumed)
IF0
err1954-01-01
err0
PREAI
errRobert B. Blance; David T. Gibson
err分享
err收藏
Life Cycle Cost Methodology for Mixers based on MTTF Life Cycle Cost Model
errIARJSET
IF0
err2017-01-06
err0
errOAAI
errSagar D. Ghagare; Prof. Abhijeet S. Suryawanshi; Vishal D Jadhav
err分享
err收藏
Capillary electrophoretic resolution of the enantiomers of 2,5-dimethyl-4-hydroxy-3(2H)-furanone, the key flavor compounds in strawberry fruit
errChromatographia
IF0
err2003-04-01
err0
PREAI
errT. Raab; U. Schmitt; T. Hauck; A. Knecht; U. Holzgrabe; W. Schwab
err分享
err收藏
Second time lucky? Withdrawn IPOs that return to the market
errJOURNAL OF FINANCIAL ECONOMICS
IF12
err2008-03-01
err70
PREAI
errDunbar, Craig G.; Foerster, Stephen R.
err分享
err收藏
Private Equity and Long-Run Investment: The Case of Innovation
errJOURNAL OF FINANCE
IF9.5
err2011-03-21
err330
PREAI
errLerner, Josh; Sorensen, Morten; Stroemberg, Per
err分享
err收藏
学者 查看更多内容