We investigated the stock price behavior of public pharmaceutical and biotechnology companies upon approval of a drug by the Food and Drug Administration (FDA). Using event study methodology, we examine the reaction caused by the approval, seperating it from the asset price movements caused by...

The goal of this paper is to examine the impact of Initial Public Offerings (IPO) on the investment strategies of young entrepreneurial firms. Hypotheses are developed from the finance, strategy and top management team literature. These are then tested using multivariate methods in order to...

In this paper, a set of hypotheses relating competitive and cooperative business strategies and technology strategies to new venture performance are developed. These hypotheses are tested using data collected from the Initial Public Offering (IPO) documents of a sample of 52 new ventures in the...