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Investment dynamics and financial constraints in IPO firms

We join research in entrepreneurship and corporate finance to investigate financial constraints on investments by IPO firms. The evidence indicates that IPO firms generally possess valuable growth opportunities, yet financial constraints also limit their ability to exploit them. Capital expenditures decline significantly post-IPO, and information asymmetries between IPO firms and external capital providers help explain why some IPO firms are more financially constrained than others. Intangible assets that are often seen at the root of IPO firms' competitive advantages can also exacerbate external financing costs, constraining IPO firms' abilities to make future strategic investments. We also find that financial constraints are persistent, as they do not diminish as younger IPO firms mature..Printed journal

Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit Strategic Management Society.,
Edisi -
Subjek Intangible assets
Capital expenditures
R&D
IPOs
Information asymmetries
ISBN/ISSN 19324391
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
Other Version/Related Tidak tersedia versi lain
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