Capacidades de investigación y directivas: señales informativas en la salida a bolsa de las empresas de base tecnológica

• Autores: Cristina Quintana García , Carlos Ángel Benavides Velasco , Vanesa Francisca Guzmán Parra
• Localización: Cuadernos de economía y dirección de la empresa, ISSN 1138-5758, Vol. 16, Nº 4, 2013, págs. 270-280
• Idioma: español
• DOI: 10.1016/j.cede.2013.06.005
• Enlaces
  • Texto completo (pdf)
• Dialnet Métricas: 8 Citas
• Resumen
  • español

    La presente investigación tiene como objetivo estudiar la influencia de las capacidades de investigación y directivas de las empresas de base tecnológica en el capital obtenido en la oferta pública inicial de acciones.

    Tras desarrollar el marco teórico fundamentado en el enfoque de capacidades dinámicas, formulamos hipótesis que sugieren que el valor de las patentes, la diversidad tecnológica y la diversidad funcional de los equipos de alta dirección son se�nales informativas para los potenciales inversores y ejercen una influencia positiva en la valoración de la empresa cuando inicia su cotización bursátil. Un estudio empírico longitudinal sobre una muestra de empresas biotecnológicas que salieron a bolsa en Estados Unidos confirma dicho planteamiento.

  • English

    This study is aimed at exploring the effect of research and managerial capabilities of technology-based firms on the capital guaranteed from their initial public offerings. Based on the dynamic capabilities perspective, we formulate a set of hypotheses that suggest that patent value, technological diversity and functional diversity of top management teams are information signals to potential investors and positively influence the valuation of firms going public. A longitudinal empirical research of a sample of dedicated biotechnology firms that went public in the United States provides support for such arguments

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