We investigate the interplay between corporate innovation (technological and product innovation) and corporate financing. Splitting up corporate innovation allows for a more precise identification of optimal financing strategies. Using a large sample of U.S. public firms between 1990 and 2015,...

This study investigates why newly listed firms become M&A targets shortly after their initial public offering (IPOs) from the perspective of product innovation. We find strong empirical evidence that IPOs with less established trademarks increase the likelihood of becoming IPO targets. We also...

We investigate the dark side of utilizing robotic capital to replace human capital in U.S. public firms and find that public firms that are more capable of replacing human capital with automated capital have surprisingly poor record of workplace safety as well as overall poor performance on...

Using 47 weather-related natural disasters as exogenous shocks to investor sentiment, we investigate the influence of investor sentiment on the pricing of initial public offerings. Our empirical evidence suggests that start-ups experiencing natural disasters within a relatively short period...