The Impact of Slack Resources on High–Tech IPOs
研究了财务、创新和管理冗余资源如何向投资者传递积极信号，提升高科技公司IPO质量，对关注IPO定价和公司资源管理的学者有参考价值。
Research on organization slack has focused mainly on its effect in large publicly traded firms, but little work exists on the value of slack resources for other firms. Therefore, here, we address the question: Do slack resources matter in the case of initial public offerings (IPOs)? We argue that firms that possess financial, innovational, and managerial slack resources are sending a positive signal to potential investors regarding the quality of the IPO. Using a sample of high–tech IPOs, we find support for that contention.