This article analyses the impact of the participation of venture capital (VC) firms on underpricing in 372 businesses brought to IPO during the period 19992001 in KOSDAQ. Korea’s second-tier stock market, KOSDAQ, has grown dramatically since 1999 and about half of the firms listed in KOSDAQ during this period were VC-backed, thus providing a good testing ground for empirical analysis. We measur...

In this study we focus on relationship-oriented factors such as trust, geographic proximity, communication, and university policies for intellectual property rights (IPR), patents and licenses and examine how these factors influence the technology transfer process between university research centers and their industrial partners. Data for this study were collected from 189 industrial firms work...

We study whether behavior in experimental gift-exchange markets with repeated interaction is affected by market conditions. One issue we consider is the impact of competitive imbalance, by varying whether there is an excess supply of firms or an excess supply of workers in the market. Workers might react differently to high wage offers in the two cases, as it may seem that firms are ‘forced to ...

Transition intermediaries are actors that support socio-technical transition processes by bridging structural deficiencies in a transitioning domain. Previous research has identified what roles perform and how. However, while domains definition state of change, the dynamics have hardly been studied. Therefore, we explore mechanisms driving change transition-supportive intermediaries, kind condi...