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The Asian Journal of Technology Management (AJTM)
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Core Subject : Science,
PURPOSE The Asian Journal of Technology management aims to promote interdisciplinary research regarding the special problems and opportunities related to technology management fields in Asia and its effects beyond. It publishes papers by worldwide scholars, practitioners, and those interested in Asian technology development under one of these classifications research paper, viewpoint, conceptual paper, case study, literature review. The journal is intended as an instrument for individuals conducting research on technology management at both micro and macro level of analysis as well as its relationship with other managerial functions such as operations, marketing finance, and human resource. READERSHIP Researchers, educator, senior practitioners in the areas of technology economics, research and development, innovation management, technology management, technology transfer, technology and business strategy will find the journal interest. UNIQUENESS AS ATTRACTIVENESS FACTOR The uniqueness factor of Asian Journal of Technology Management is the scope of study which views the intersect of Technology and Management in a fashionable and unique way in creating competitive advantage of corporations and nations in Asia. As we are facing a fast changing Asia, where old customs and tradition meet technology adoption and the government, industry, corporations; the journal intends to take part in the swift change and is filling a niche in the journal business. There is no other journal that intersects Technology Management and micro-macro level analyzes in the continent of Asia where extensive and considerable shift of technology adoption is in a fast pace. AJTM Journal Indexed by Cross Ref, Index Copernicus, Google Scholar, DOAJ and Indonesian Publication Index (IPI). Print ISSN: 1978-6956; Online ISSN: 2089-791X
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Articles 1 Documents
Search results for , issue "Vol. 15 No. 1 (2022)" : 1 Documents clear
Patent Signals of IPO Performance: Evidence from High- and Low-Tech Industries in Japan An, Le Thuy Ngoc; Matsuura, Yoshiyuki; Yahya, Norliza Che; Phuc, Nguyen Huu
The Asian Journal of Technology Management (AJTM) Vol. 15 No. 1 (2022)
Publisher : Unit Research and Knowledge, School of Business and Management, Institut Teknologi Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12695/ajtm.2022.15.1.2

Abstract

Abstract: Prior studies pointed to evidence that startups and venture capital (VC) companies tended to use different measures to provide signals to outsiders. This study adds to those previous insights by focusing on established firms’ patenting behaviors and their effect on the amount of money raised at the initial public offering (IPO). Since technology intensity may differ considerably between high and low-tech companies, our main interest in this paper lies on whether the significance of pre-IPO patenting activities as a predictor of IPO performance also varies between these two industry categories. Using cross-sectional data representing 308 Japanese industrial firms’ IPO commitments between 2000 and 2015, we find a robust positive correlation between patent applications and IPO performance. Contrary to the conventional wisdom proposing that high-tech firms with more patenting activities achieve better IPO performance, we show that the signaling power of patenting is stronger for the low-tech companies in our sample: While the high-tech firms do not seem to have significantly benefited from a patent signal, the low-tech firms seem to have attracted external investors more easily due to patenting at the IPO. Keywords:  Patent, signal, initial public offering (IPO), high-tech industries, low-tech industries

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