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board effects on performance in emerging industries: the case of biotechnology (board of directors, initial public offerings). [microform]
board effects on performance in emerging industries: the case of biotechnology (board of directors, initial public offerings). [microform]
상세정보
- 자료유형
- 마이크로피시
- 청구기호
- 저자명
- 서명/저자
- board effects on performance in emerging industries: the case of biotechnology (board of directors, initial public offerings). - [microform]
- 발행사항
- 형태사항
- 197 p. : microfiches ; 11×15 cm.
- 총서명
- UMI Dissertation
- 주기사항
- Source: Dissertation Abstracts International, Volume: 54-04, Section: A, page: 1453.
- 학위논문주기
- thesis (ph.d.)-- - the university of nebraska - lincoln, 1993.
- 초록/해제
- 요약This study was designed to determine if the size and composition of the boards of directors is related to aftermarket performance of initial public offering firms (IPOs) in industries in the early stages of their life cycle. The importance of studying firm performance during the founding period has been emphasized in past research, but actual investigation has been rare. In addition, research on IPOs and the biotechnology industry (the focus of this study) in the literature of strategic management has been sparse.
- 초록/해제
- 요약Based upon resource dependency theory, this study investigated factors associated with the size and composition of the board of directors at the time of the IPO and their effect on subsequent aftermarket performance. Specifically, this dissertation investigated the relationship between the effect of the size of the board, its expertise (e.g., finance and science), and the percentage of outside directors at the time of the IPO on the subsequent market valuation of these firms. The study examined 80 public biotech companies from the years 1980-1987.
- 초록/해제
- 요약The results of the study supported resource dependency theory by finding significant relationships between the size and composition of the board and aftermarket IPO performance of the biotech firms. Specifically, biotech firms which had a larger number of outside directors with financially related backgrounds had significantly better aftermarket IPO performance. Also, firms which had a larger percentage of outside directors had significantly better aftermarket IPO performance. Results also showed a negative significant relationship between the size of the board and aftermarket IPO performance.
- 초록/해제
- 요약In addition, no significant relationships were found between aftermarket IPO performance and (1) the number of outside directors who were university scientists, and (2) the interaction between the number of outside directors with financially related backgrounds and outsiders who were university scientists. Finally, positive significant relationships were found between organizational size and initial offering size with aftermarket IPO performance.
- 복제주기
- Microfiche : UMI . microfiches;11×15 cm.
- 일반주제명
- 일반주제명
- 일반주제명
- 키워드
- 기타저자
- 기본자료저록
- Dissertation Abstracts International. 54-04A.
MARC
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■008970923s1993 us eng
■035 ▼a(UnM)AAV9322794
■040 ▼aUnM▼cUnM▼dMOKWON
■090 ▼a574▼bF499b
■1001 ▼afinkle, todd alan.
■24510▼aboard effects on performance in emerging industries: the case of biotechnology (board of directors, initial public offerings).▼h[microform]
■260 ▼aU.S.▼bthe university of nebraska - lincoln▼c1993.
■300 ▼a197 p.▼bmicrofiches▼c11×15 cm.
■350 ▼a$50.6
■44000▼aUMI Dissertation
■500 ▼aSource: Dissertation Abstracts International, Volume: 54-04, Section: A, page: 1453.
■502 ▼athesis (ph.d.)--▼bthe university of nebraska - lincoln▼d1993.
■520 ▼aThis study was designed to determine if the size and composition of the boards of directors is related to aftermarket performance of initial public offering firms (IPOs) in industries in the early stages of their life cycle. The importance of studying firm performance during the founding period has been emphasized in past research, but actual investigation has been rare. In addition, research on IPOs and the biotechnology industry (the focus of this study) in the literature of strategic management has been sparse.
■520 ▼aBased upon resource dependency theory, this study investigated factors associated with the size and composition of the board of directors at the time of the IPO and their effect on subsequent aftermarket performance. Specifically, this dissertation investigated the relationship between the effect of the size of the board, its expertise (e.g., finance and science), and the percentage of outside directors at the time of the IPO on the subsequent market valuation of these firms. The study examined 80 public biotech companies from the years 1980-1987.
■520 ▼aThe results of the study supported resource dependency theory by finding significant relationships between the size and composition of the board and aftermarket IPO performance of the biotech firms. Specifically, biotech firms which had a larger number of outside directors with financially related backgrounds had significantly better aftermarket IPO performance. Also, firms which had a larger percentage of outside directors had significantly better aftermarket IPO performance. Results also showed a negative significant relationship between the size of the board and aftermarket IPO performance.
■520 ▼aIn addition, no significant relationships were found between aftermarket IPO performance and (1) the number of outside directors who were university scientists, and (2) the interaction between the number of outside directors with financially related backgrounds and outsiders who were university scientists. Finally, positive significant relationships were found between organizational size and initial offering size with aftermarket IPO performance.
■533 ▼aMicrofiche▼cUMI▼emicrofiches;11×15 cm.
■590 ▼aSchool code: 0138.
■650 4▼aBusiness Administration, Management
■650 4▼aBiology, General
■650 4▼aEconomics, Finance
■653 ▼aboard▼aeffects▼aon▼aperformance▼ain▼aemerging▼aindustries▼athe▼acase▼aof▼abiotechnology▼a(board▼aof▼adirectors▼ainitial▼apublic▼aofferings).
■690 ▼a0454
■690 ▼a0306
■690 ▼a0508
■71020▼athe university of nebraska - lincoln.
■7730 ▼tDissertation Abstracts International▼g54-04A.
■790 ▼a0138
■791 ▼aPH.D.
■792 ▼a1993
