Journal ArticleDOI
Financial dependence and innovation: The case of public versus private firms
Viral V. Acharya,Zhaoxia Xu +1 more
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In this paper, the authors examined the relation between innovation and a firm's financial dependence using a sample of privately held and publicly traded US firms and found that public firms in external finance dependent industries spend more on research and development and generate a better patent portfolio than their private counterparts.About:
This article is published in Journal of Financial Economics.The article was published on 2017-05-01. It has received 283 citations till now. The article focuses on the topics: Listing (finance) & Patent portfolio.read more
Citations
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Does Going Public Boost or Impede Firm Innovation? : Evidence from firms in Sweden
Zhao Jansson,Krystal Dan +1 more
TL;DR: In this paper, the authors investigated the effects of going public on firm innovation by comparing the innovation activities of firms that go public with firms that choose to not undergo an initial public offer.
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Should we worry about the decline of the public corporation? A brief survey of the economics and external effects of the stock market
TL;DR: In this article, a selective survey of the literature on the real economic effects of the stock market to assess the potential effects of this decline and determine whether it is likely to continue.
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The factors influencing the decision to list on Abu Dhabi securities exchange
Aktham Maghyereh,Basel Awartani +1 more
TL;DR: In this article, the authors survey a sample of 145 chief executive officers and deputies of the CEO's in order to explain why firms refrain from going public and float their equity in the market.
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How Does Private Firm Innovation Affect Anti-Takeover Provisions in Corporate Charters? Evidence from Firms Going Public
TL;DR: In this article, the authors make use of data on anti-takeover provisions (ATPs) and top management characteristics hand-collected from IPO prospectuses to analyze the effect of the pre-IPO innovativeness and the top management quality of private firms on the number and strength of ATPs in their corporate charters.
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Can loan guarantee promote innovation behaviour in firms? Evidence from Chinese listed firms
TL;DR: In this paper, the authors examine whether obtaining loan guarantees from third parties can improve the performance of credit-loan guarantee contracts for credit-financing, and they conclude that obtaining loan guarantee contracts is the primary method for firms to obtain external financial resources.
References
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Journal ArticleDOI
Risk, Return, and Equilibrium: Empirical Tests
Eugene F. Fama,James D. MacBeth +1 more
TL;DR: In this article, the relationship between average return and risk for New York Stock Exchange common stocks was tested using a two-parameter portfolio model and models of market equilibrium derived from the two parameter portfolio model.
Posted Content
Financial Dependence and Growth
Raghuram G. Rajan,Luigi Zingales +1 more
TL;DR: This paper examined whether financial development facilitates economic growth by scrutinizing one rationale for such a relationship: that financial development reduces the costs of external finance to firms, and they found that industrial sectors that are relatively more in need of foreign finance develop disproportionately faster in countries with more developed financial markets.
Posted Content
Patent Statistics as Economic Indicators: A Survey
TL;DR: In this paper, the authors present a survey on the use of patent data in economic analysis, focusing on the patent data as an indicator of technological change and concluding that patent data remain a unique resource for the study of technical change.
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The economic implications of corporate financial reporting
TL;DR: This paper found that the majority of managers would avoid initiating a positive NPV project if it meant falling short of the current quarter's consensus earnings, and more than three-fourths of the surveyed executives would give up economic value in exchange for smooth earnings.
Posted Content
Market value and patent citations
TL;DR: Hall et al. as mentioned in this paper explored the usefulness of patent citations as a measure of the "importance" of a firm's patents, as indicated by the stock market valuation of the firm's intangible stock of knowledge.