원문정보
The Effect of Early Listing and Slack Resources of Newly Public Firm on Internationalization : Based on Entrepreneurship
초록
영어
While there exists voluminous literature on the internationalization of the firms, it has focused on mature firms or born-global firms. There is still a lack of research on firm that is in the growth stage between venture and mature firm. To fill this gap, this paper focuses on the newly public firm which is enter the stock market through initial public offerings (IPO). Specifically, I examine the relationship between the early listing and internationalization. In the venture firm aspect, the decision of the IPO necessary to allow to change organization structure, ownership and take a risk from environmental movements. This paper suggests early listing is a behavior of entrepreneur orientation. According to empirical results, there is a positive relationship between early listing and internationalization. It implies that early listing may help international expansion by sourcing finance, reputations from market. Furthermore, this study emphasizes the importance of financial slack resources to international expansion. I conclude that ventures need not only early entering in stock market but also securing sufficient financial slack resources to achieve sustainable growth in the international market.
목차
1. 서론
2. 문헌연구
2.1 기업가정신
2.2 기업공개와 신규상장기업
3. 연구가설
3.1 신속한 주식상장과 국제화수준
3.2 신규상장기업의 여유자원과 국제화수준
4. 연구방법
4.1 연구표본 및 자료수집
4.2 변수측정
4.3 분석결과
5. 결론 및 시사점
References