Titre
"After the IPO: Patenting, Fear of Litigation and Secrecy."
Type
article de conférence/colloque
Institution
UNIL/CHUV/Unisanté + institutions partenaires
Auteur(s)
Morricone, S.
Auteure/Auteur
Forti, E.
Auteure/Auteur
Munari, F.
Auteure/Auteur
Liens vers les personnes
Liens vers les unités
Maison d’édition
The Academy of Management
Titre du livre ou conférence/colloque
Academy of Management Proceedings
Adresse
Philadelphia, US
Statut éditorial
Publié
Date de publication
2014-01-01
Volume
2014
Numéro
1
Première page
14287
Dernière page/numéro d’article
14287
Langue
anglais
Résumé
An Initial Public Offering (IPO) is a critical event in a firm’s life cycle and can reshape its innovation strategy. Recent empirical studies suggest that after going public firms experience an increase in innovative productivity, but a decrease in exploratory search. Our paper explores the determinants of these outcomes of firms’ innovation by investigating the patenting activity of a sample of 70 US semiconductor firms that completed an IPO between 1997 and 2006. We attempt to account for the dynamics of self-selection of firms into IPO by considering matched pairs of technology ventures with similar pre-IPO characteristics, but that never went public. Results show that the amount of capital raised during the IPO and the fear of litigation foster the growth of innovative productivity. On the contrary, a decline in exploratory search after the IPO is associated with a larger use of trade secrets to protect the output of research on unfamiliar technologies.
PID Serval
serval:BIB_FC49E702F693
Date de création
2017-10-10T14:08:41.699Z
Date de création dans IRIS
2025-05-21T07:22:56Z