Going Public: How Stock Market Listing Changes Firm Innovation Behavior
Abstract
Although going public allows firms access to more financial capital that can fuel innovation, it also exposes them to a set of myopic incentives and disclosure requirements that constrain innovation. This tension is expected to produce a unique pattern of innovation strategies among firms going public, causing such firms to increase their innovation levels but reduce their innovation riskiness. Specifically, the authors predict that after going...
Paper Details
Title
Going Public: How Stock Market Listing Changes Firm Innovation Behavior
Published Date
Oct 1, 2015
Volume
52
Issue
5
Pages
694 - 709
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