Strategy of start-ups for IPO timing across high technology industries
Yoon-Jun Lee and
Jeong-Dong Lee ()
Applied Economics Letters, 2008, vol. 15, issue 11, 869-877
The technology-based start-ups have emerged as important drivers of innovative activity across many industries. For these start-ups, the initial public offering (IPO) has been used as a measure for performance and leads to an influx of capital that enables these firms to implement their ideas. In this study, we focus on the timing of IPO between two industries. Empirically, we investigated corporate disclosure data and patent application data from 36 biotechnology (BT) firms and 166 information technology (IT) firms that are registered in KOSDAQ between 2000 and 2004. The results show that IT start-ups had better wait until the stock market becomes bullish, while BT start-ups had better go public quickly if possible.
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed
Downloads: (external link)
http://www.informaworld.com/openurl?genre=article& ... 40C6AD35DC6213A474B5 (text/html)
Access to full text is restricted to subscribers.
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:15:y:2008:i:11:p:869-877
Ordering information: This journal article can be ordered from
Access Statistics for this article
Applied Economics Letters is currently edited by Anita Phillips
More articles in Applied Economics Letters from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().