This paper investigates the dynamics of a sample of 131 Science-Based Entrepreneurial Firms (SBEFs), selected out of 500 innovative SMEs that went public in Europe in the period 1995- 2003. We found that the market for the control of these firms was active, with most of our sample firms being...

Companies obtain significant benefits and resources from university affiliations. Building on recent contributions in the fields of organizational theory and signaling theory, we argue that such relationships redresses investors’ concerns over the legitimacy of firms and acts as an...