Reference : The effect of trademark breadth on IPO valuation and post-IPO performance: an empiric...
Scientific journals : Article
Business & economic sciences : Strategy & innovation
Entrepreneurship and Innovation / Audit
http://hdl.handle.net/10993/51492
The effect of trademark breadth on IPO valuation and post-IPO performance: an empirical investigation of 1,510 European IPOs
English
Fisch, Christian mailto [University of Luxembourg > Interdisciplinary Centre for Security, Reliability and Trust (SNT) > Entrepreneurship, Innovation, and New Technology (EINT) >]
Meoli, Michele []
Vismara, Silvio []
Block, Jörn []
2022
Journal of Business Venturing
Elsevier
37
5
106237
Yes
International
0883-9026
Amsterdam
Netherlands
[en] Trademarks ; Trademark breadth ; Real options theory ; IPO ; Buy-and-hold returns ; Signaling theory
[en] Trademarks differ in breadth and can cover a wide range of categories of goods and services. We draw on real options theory and argue that greater trademark breadth constitutes a valuable real option that is associated with higher firm valuation and performance. We analyze a sample of 1510 firms that went public in Europe between 2002 and 2015 and find a positive effect of trademark breadth on initial public offering (IPO) valuation and post-IPO performance. We implement a contingency analysis to contrast real options and signaling theory and find stronger support for the real options perspective.
http://hdl.handle.net/10993/51492
10.1016/j.jbusvent.2022.106237
https://www.sciencedirect.com/science/article/pii/S0883902622000490

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