Innovation, Appropriability, And The Underpricing Of Initial Public Offerings

By Michael B. Heeley, Sharon F. Matusik, Neelam Jain. 2007

270 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/b82a1f133c9438ef8d1d7522827dcddf856f6a12

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Citations in the corpus

Signaling by early stage startups: US government research grants and venture capital funding (2018, background): “One objective measure of firms’ technical outputs is their patenting activity (Heeley et al., 2007).”
An international multilevel analysis of product innovation (2010, background): “In the economics and IB literatures this is called the appropriability problem (Heeley et al., 2007).”
A Signaling Theory of Acquisition Premiums: Evidence from IPO Targets (2012, background): “…technologies, human capital, etc.), their market newness, and their lack of credibility in various markets (short track records) (e.g., Certo, 2003; Heeley et al., 2007; Sanders & Boivie, 2004), the value of signals is also a function of the level of information asymmetry faced by an individual…”
Measuring firm innovativeness: towards a composite innovation index built on firm innovative posture, propensity and performance attributes (2008, background): “, 2006), measurement of the innovativeness should lead to a better understanding for the dynamic development and potential of a firm (Carayannis and Alexander, 1999; Heeley et al., 2007).”
Appropriability, Preemption, and Firm Performance (2009, unknown): “Heeley, Matusik, and Jain (2007) provide evidence for the role of the transparency of the link between internal innovative activities and the ability to appropriate returns from them as determinants of information asymmetries in the financial market and the underpricing of initial public offerings.”
Resources as dual sources of advantage: Implications for valuing entrepreneurial‐firm patents (2013, methodology): “As Hellmann and Puri (2002) and others suggest, VCs assist start-ups in attaining business and financial resources (such as alliance partners, management teams, and reputable investment bankers) and have repeated interactions in public equity markets.”
The diminishing signaling value of patents between early rounds of venture capital financing (2014, background): “2 There is also evidence linking patents to successful Initial Public Offerings (e.g. Cockburn and MacGarvie, 2009; Heeley et al., 2007).”
How patenting informs VC investors - The case of biotechnology (2014, background): “Heeley et al. (2007) study the role of patents in IPO underpricing and argue that the role of patents in the reduction of information asymmetries is highly context-dependent.”