商标宽度对IPO估值及上市后绩效的影响——基于1510宗欧洲IPO的实证研究

IF 7.7 1区管理学 Q1 BUSINESS

Journal of Business Venturing Pub Date : 2022-09-01 DOI:10.1016/j.jbusvent.2022.106237

Christian Fisch , Michele Meoli , Silvio Vismara , Jörn H. Block

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引用次数: 6

摘要

商标的广度各不相同，可以涵盖广泛的商品和服务类别。我们借鉴实物期权理论，认为更大的商标宽度构成了有价值的实物期权，与更高的公司估值和绩效相关。我们分析了2002年至2015年间在欧洲上市的1510家公司的样本，发现商标宽度对首次公开发行(IPO)估值和IPO后绩效的积极影响。我们通过权变分析来对比实物期权理论和信号理论，从而为实物期权理论找到更有力的支持。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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The effect of trademark breadth on IPO valuation and post-IPO performance: an empirical investigation of 1510 European IPOs

Trademarks differ in breadth and can cover a wide range of categories of goods and services. We draw on real options theory and argue that greater trademark breadth constitutes a valuable real option that is associated with higher firm valuation and performance. We analyze a sample of 1510 firms that went public in Europe between 2002 and 2015 and find a positive effect of trademark breadth on initial public offering (IPO) valuation and post-IPO performance. We implement a contingency analysis to contrast real options and signaling theory and find stronger support for the real options perspective.

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来源期刊

Journal of Business Venturing BUSINESS-

CiteScore

16.70

自引率

6.90%

发文量

审稿时长

77 days

期刊介绍： The Journal of Business Venturing: Entrepreneurship, Entrepreneurial Finance, Innovation and Regional Development serves as a scholarly platform for the exchange of valuable insights, theories, narratives, and interpretations related to entrepreneurship and its implications. With a focus on enriching the understanding of entrepreneurship in its various manifestations, the journal seeks to publish papers that (1) draw from the experiences of entrepreneurs, innovators, and their ecosystem; and (2) tackle issues relevant to scholars, educators, facilitators, and practitioners involved in entrepreneurship. Embracing diversity in approach, methodology, and disciplinary perspective, the journal encourages contributions that contribute to the advancement of knowledge in entrepreneurship and its associated domains.