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Growth Level and Managerial and Financial Aspects of Japanese IPO Companies and High-Tech New Ventures

Research Project

Project/Area Number 10430027
Research Category

Grant-in-Aid for Scientific Research (B)

Allocation TypeSingle-year Grants
Section一般
Research Field Business administration
Research InstitutionOsaka City University

Principal Investigator

OKANO Hiroshi  Osaka City University, Faculty of Business, Professor, 商学部, 教授 (70204005)

Co-Investigator(Kenkyū-buntansha) YAMADA Kozo  Okayama University, Faculty of Economics, Associate Professor, 経済学部, 助教授 (40240014)
KUTSUNA Kenji  Osaka City University, Institute of Economic Research, Associate Professor, 経済研究所, 助教授 (00275273)
AKASHI Yoshihiko  Osaka City University, Institute of Economic Research, Professor, 経済研究所, 教授 (00150970)
Project Period (FY) 1998 – 1999
Project Status Completed (Fiscal Year 1999)
Budget Amount *help
¥9,900,000 (Direct Cost: ¥9,900,000)
Fiscal Year 1999: ¥5,600,000 (Direct Cost: ¥5,600,000)
Fiscal Year 1998: ¥4,300,000 (Direct Cost: ¥4,300,000)
KeywordsIPO / Technology Development / R&D / Core / Technology / Know-how / Structure of Holding Stocks / Performance / 株式保有構造 / 業績パフォーマンス / ベンチャー / 中小企業 / 株式公開
Research Abstract

Management
To analyze questionnaires done in 1998 made clear that core competitive factors of IPO companies were
(1) flexibility based on the vision of top management,
(2) autonomic strategic activities at operational level,
(3) establishing day to day operation and quality control,
(4) functional organization which is relevant to business domain.
This shows the ability to manage the inter-contradicting factors, entrepreneur activities and establishing organizational structure.
Research and Development
Technology
Some specification of R&D of new materials are identified. Also the difference between assembly and process companies, market-oriented and technology-oriented companies, start-up and growth stages, profit and cost management of new product and technology.
Finance
The relationship between performance and the structure of holding stocks of IPO companies and its change are discussed.
Companies that realize their own core idea, especially service companies won the highest growth rate among IPO companies. The longer the tern from establishing to IPO is, the more growth rate and profitability are. Most of IPO companies are focusing not patent but new product development, and seeking for know-how of technology and channel of sales as competitive advantages.

Report

(3 results)
  • 1999 Annual Research Report   Final Research Report Summary
  • 1998 Annual Research Report
  • Research Products

    (12 results)

All Other

All Publications (12 results)

  • [Publications] Okano, H., et al,: "Product and Technology Development Strategies of New Ventures : A Case Approach"Proceedings of The Creation of Fast Growth High Tech Venture : Finance, Management and R&D,. 1-33 (1999)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1999 Final Research Report Summary
  • [Publications] Akashi, Y. & H. Yasuda,: "R&D activity, 'Core Assets', and Operating perfomances of the JASDAQ Companies,"Procedings of The Creation of Fast Crowth High Tech Venture : Finance, Management and R&D,. 34-62 (1999)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1999 Final Research Report Summary
  • [Publications] Yamada, K., et al.,: "High Growth JASDAQ Fims during a Recession : Empirical Evidence from Newly Registered Firms, 1993 to 1997"Proceedings of The Creation of Fast Growth High Tech Venture : Finacde, Management and R&D,. 63-82 (1999)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1999 Final Research Report Summary
  • [Publications] Kutsuna, K. & H. Okamura,: "Ownership Structure Pre- & Post-IPO and the Operating perfomance of JASDAQ Companies"Preoceedings of The Creation of Fast Growth High Tech Venture : Finance, Management and R&D,. 83-114 (1999)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1999 Final Research Report Summary
  • [Publications] 忽那憲治・岡村秀夫: "新規店舗公開企業の業績パフォーマンスと株式保有構造"『証券アナリストジャーナル』. 99-11. 1-21 (1999)

    • Description
      「研究成果報告書概要(和文)」より
    • Related Report
      1999 Final Research Report Summary
  • [Publications] Okano,H.,et al,: "Product and Technology Development Strategies of New Ventures: A Case Approach"Proceedings of The Creation of Fast Growth High Tech Venture: Finance,Management and R&D. 1-33 (1999)

    • Related Report
      1999 Annual Research Report
  • [Publications] Akashi,Y.& H.Yasuda: "R&D activity,'Core Assets',and Operating Performances of the JASDAQ Companies"Proceedings of The Creation of Fast Growth High Tech Venture: Finance, Management and R&D. 1-29 (1999)

    • Related Report
      1999 Annual Research Report
  • [Publications] Kutsuna,K.& H.Okamura: "Ownership Structure Pre- & Post-IPO and the Operating Performance of JASDAQ Companies"Proceedings of The Creation of Fast Growth High Tech Venture: Finance, Management and R&D. 1-32 (1999)

    • Related Report
      1999 Annual Research Report
  • [Publications] Yamada,K., et al.,: "High Growth JASDAQ Firms during a Recession: Empirical Evidence from Newly Registered Firms, 1993 to 1997"Proceedings of The Creation of Fast Growth High Tech Venture: Finance, Management and R&D. 1-20 (1999)

    • Related Report
      1999 Annual Research Report
  • [Publications] 忽那憲治,岡村秀夫: "「新規店頭公開企業の業績パフォーマンスと株式保有構造」"『証券アナリストジャーナル』. 99-11. 1-21 (1999)

    • Related Report
      1999 Annual Research Report
  • [Publications] 忽那憲治: "新規店頭公開企業の「低成長性」と市場改革に向けての課題" 日本的金融システムの転機(数阪孝志編). 219-244 (1998)

    • Related Report
      1998 Annual Research Report
  • [Publications] 忽那憲治: "ベンチャー・ファイナンスと店頭市場" ESP(経済企画庁). 321号. 46-49 (1999)

    • Related Report
      1998 Annual Research Report

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Published: 1998-04-01   Modified: 2016-04-21  

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