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Article
The relationship between technological strength and initial offering size in small high tech firms: The case of biotechnology
10th Proceedings of the Annual National United States Association for Small Business & Entrepreneurship Conference (1995)
  • Todd A Finkle, University of North Carolina at Charlotte
Abstract
This study investigates the relationship between a firm's technological strength and its market capitalization during its initial public offering. Utilizing the entire population of public biotech firms from 1980-1989 as a sample, results indicate no significant relationships between the number of patents and citations (Technological strength) and the size of a firm's IPO. This paper examines this finding by introducing the protection of intellectual right for firms in a rapidly changing industry. Findings also indicate a positive significant relationship between organizational size and organizational age with a firm's initial offering size.
Keywords
  • IPOs,
  • Biotechnology,
  • Technology,
  • Entrepreneuship
Publication Date
1995
Citation Information
Todd A Finkle. "The relationship between technological strength and initial offering size in small high tech firms: The case of biotechnology" 10th Proceedings of the Annual National United States Association for Small Business & Entrepreneurship Conference (1995)
Available at: http://works.bepress.com/todd_finkle/68/