Abstract

http://ssrn.com/abstract=1743706
 
 

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Post-IPO Actions and Firm Survival: More than Signaling?


K. Thomas Chandy


Santa Clara University - Leavey School of Business

Nagaraj Sivasubramaniam


Duquesne University - A.J. Palumbo School of Business Administration

January, 19 2011

SCU Leavey School of Business Research Paper No. 11-01

Abstract:     
Entrepreneurial firms, at their birth, have a high probability of failure due to the “liability of newness.” Even firms that surmount the initial challenges and get to the stage of issuing an initial pubic offering (IPO) still face a significant hazard rate. In this paper, we examine whether, in the post-IPO stage, strategic choice matters. We examine whether management actions following an IPO enhance the firm’s survival and, second, if they do, which actions really make a difference. We analyzed a sample of 104 internet-related firms that issued IPOs between 1995 and 1999, and find that management action in three areas - market expansion, entry into alliances, and expansion or reconfiguration of the top management team and/or board of directors - significantly enhance firm survival.

Number of Pages in PDF File: 40

Keywords: Entrepreneurship, Strategic Choice, Initial Public Offering, Resources, Capabilities, Survival

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Date posted: January 19, 2011  

Suggested Citation

Chandy, K. Thomas and Sivasubramaniam, Nagaraj, Post-IPO Actions and Firm Survival: More than Signaling? (January, 19 2011). SCU Leavey School of Business Research Paper No. 11-01. Available at SSRN: http://ssrn.com/abstract=1743706 or http://dx.doi.org/10.2139/ssrn.1743706

Contact Information

K. Thomas Chandy (Contact Author)
Santa Clara University - Leavey School of Business ( email )
500 El Camino Real
Santa Clara, CA California 95053
United States
510-673-2351 (Phone)
Nagaraj Sivasubramaniam
Duquesne University - A.J. Palumbo School of Business Administration ( email )
Pittsburgh, PA 15282
United States
412-396-6251 (Phone)
412-396-4764 (Fax)
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