earticle

영어

In order to have answered according to our major research object which states the main effect of IPO on the firm's open innovation. This paper will be the first study to investigate differences in open innovation levels before and after companies’ IPOs through a quantitative patent analysis. We found that patent applications remarkably increased after IPO, especially during the three years before and after IPO. We could find out 3 implications from this research. First, Firms choose different open innovation strategies between before and after of IPI. Even though firms’ patent application during 3 years after IPO decreased, the level of open innovation during this period increased. Maybe firms choose different open innovation strategy after IPO normally. Second, Firms’ open innovation increase from just before 3 years of IPO. This means that firms increase open innovation to make successful situation for IPO. If any firm wants to succeed in IPO, it has to increase open innovation. Third, open innovation strategy chosen by firms are very different according to situations such as belonging industries, firm’s volume, and firms’ state at the belonging market.