2017 Fiscal Year Final Research Report
An empirical study on the share ownership structure and the change of management triggered by the initial public offering
Project/Area Number |
26780211
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Research Category |
Grant-in-Aid for Young Scientists (B)
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Allocation Type | Multi-year Fund |
Research Field |
Management
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Research Institution | Hokkai-Gakuen University |
Principal Investigator |
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Project Period (FY) |
2014-04-01 – 2018-03-31
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Keywords | 新規株式公開 / IPO / 株式所有構造 / 業績パフォーマンス / 運転資本管理 / ベンチャー・キャピタル / VC |
Outline of Final Research Achievements |
This study empirically clarifies the impact of initial public offering (IPO) on the actual corporate management through qualitative analysis using corporate financial data. The sample is 1138 non-financial companies that made initial public offerings in the market for emerging and growing companies (JASDAQ, Mothers etc) from January 2001 to December 2015. We examined the following four sub themes, (1) the presence of venture capital, (2) the relationship between operating performance and the shareholding structure, (3) the impact of IPO on working capital and investment behavior, and (4) the motive for IPO.
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Free Research Field |
経営学
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