Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2018.1545595
Effects of initial public offerings on economic performance of small and medium-sized enterprises
Eunil Park
; Data Science Laboratory, Hanyang University, Korea; Department of Interaction Science, Sungkyunkwan University, Korea;
Jang Seob Oh
; Graduate School of Innovation and Technology Management, Korea Advanced Institute of Science and Technology (KAIST), Daejeon, Korea
Yongwoo Cho
; College of Computing, Hanyang University, Ansan, Korea
Sang Jib Kwon
; Department of Business Administration, Dongguk University, Gyeongju Campus, Gyeongju, Korea
Sažetak
This study investigates the effects of the initial public offerings (I.P.O.s) of small and medium-sized enterprises (S.M.E.s) and their efforts to cooperate with large conglomerates on S.M.E.s’economic performance and job creation. This study conducted a series of analyses of variance with a 22 between-subject design (I.P.O.s and cooperation with large conglomerates) and multiple regression analyses for credit ratings using 4419 and 3919 samples, respectively, of S.M.E.s from the Korea Innovation Survey. The results showed that I.P.O.s and cooperation with large conglomerates are positively associated with S.M.E.s’job creation as well as multiple economic outcomes. Moreover, several scholars have argued that more accurate credit rating criteria should be proposed to evaluate the potential values of S.M.E.s because the current criteria mainly focus on their short-term financial and economic performance. Based on the results of the multiple regression analyses, this study found that I.P.O.s have a negative effect on S.M.E.s’credit ratings, whereas cooperation with large conglomerates and job creation have no effect and the growth rates of net income and current assets have a positive effect
Ključne riječi
small and medium-sized enterprise; initial public offering; cooperation; employment; credit rating
Hrčak ID:
228548
URI
Datum izdavanja:
22.1.2019.
Posjeta: 1.280 *