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http://dx.doi.org/10.21219/jitam.2022.29.3.025

The Effect of Early Listing and Slack Resources of Newly Public Firm on Internationalization: Based on Entrepreneurship  

Kim, Kihyun (Global Business, School of Social Science, Hansung University)
Publication Information
Journal of Information Technology Applications and Management / v.29, no.3, 2022 , pp. 25-41 More about this Journal
Abstract
While there exists voluminous literature on the internationalization of the firms, it has focused on mature firms or born-global firms. There is still a lack of research on firm that is in the growth stage between venture and mature firm. To fill this gap, this paper focuses on the newly public firm which is enter the stock market through initial public offerings (IPO). Specifically, I examine the relationship between the early listing and internationalization. In the venture firm aspect, the decision of the IPO necessary to allow to change organization structure, ownership and take a risk from environmental movements. This paper suggests early listing is a behavior of entrepreneur orientation. According to empirical results, there is a positive relationship between early listing and internationalization. It implies that early listing may help international expansion by sourcing finance, reputations from market. Furthermore, this study emphasizes the importance of financial slack resources to international expansion. I conclude that ventures need not only early entering in stock market but also securing sufficient financial slack resources to achieve sustainable growth in the international market.
Keywords
Newly Public Firm; Early Listing; Entrepreneurship; Slack Resources; Internationalization;
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