{"title":"Exploring Corporate Governance on Post-IPO Performance of R&D Intensive New Public Firms","authors":"Manali Chatterjee , Titas Bhattacharjee , Bijitaswa Chakraborty , Tugrul Daim , Birgul Kupeli","doi":"10.1016/j.jengtecman.2024.101796","DOIUrl":null,"url":null,"abstract":"<div><p>Building on corporate governance life cycle theory, this study aims to enrich the understanding of the influence of corporate governance on post-IPO performance of R&D intensive newly public firms. The findings of this study reveal that corporate governance is an essential factor for determining the long run post-IPO performance. Promoters who retained controlling ownership in the post-IPO period and board independence are positively associated with the firm’s performance. Yet, a promoter’s involvement in management can have adverse influence on the firm’s performance. The outcome of the hypotheses draws support at the interplay of agency, stewardship, and resource dependence theory. The novelty of this study prevails in understanding the impact of corporate governance at the nexus of industrial and institutional contexts together.</p></div>","PeriodicalId":50209,"journal":{"name":"Journal of Engineering and Technology Management","volume":"71 ","pages":"Article 101796"},"PeriodicalIF":3.7000,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Engineering and Technology Management","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0923474824000018","RegionNum":3,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS","Score":null,"Total":0}
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Abstract
Building on corporate governance life cycle theory, this study aims to enrich the understanding of the influence of corporate governance on post-IPO performance of R&D intensive newly public firms. The findings of this study reveal that corporate governance is an essential factor for determining the long run post-IPO performance. Promoters who retained controlling ownership in the post-IPO period and board independence are positively associated with the firm’s performance. Yet, a promoter’s involvement in management can have adverse influence on the firm’s performance. The outcome of the hypotheses draws support at the interplay of agency, stewardship, and resource dependence theory. The novelty of this study prevails in understanding the impact of corporate governance at the nexus of industrial and institutional contexts together.
期刊介绍：
The Journal of Engineering and Technology Management (JET-M) is an international scholarly refereed research journal which aims to promote the theory and practice of technology, innovation, and engineering management.
The journal links engineering, science, and management disciplines. It addresses the issues involved in the planning, development, and implementation of technological capabilities to shape and accomplish the strategic and operational objectives of an organization. It covers not only R&D management, but also the entire spectrum of managerial concerns in technology-based organizations. This includes issues relating to new product development, human resource management, innovation process management, project management, technological fusion, marketing, technological forecasting and strategic planning.
The journal provides an interface between technology and other corporate functions, such as R&D, marketing, manufacturing and administration. Its ultimate goal is to make a profound contribution to theory development, research and practice by serving as a leading forum for the publication of scholarly research on all aspects of technology, innovation, and engineering management.
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