Killer App or Killed by Greed? VC and Manager Time Orientation in IPO Firms Public Deposited

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Last Modified
  • March 21, 2019
Creator
  • Halliday, Stephen
    • Affiliation: Kenan-Flagler Business School
Abstract
  • Business investments inherently require a time horizon. Costs will almost always precede future profits and other benefits for the firm. And yet, despite the core role that time plays in business investments, we know little about how managers and owners affect the time horizons of investment decisions and subsequently, how these decisions affect firm performance and firm performance growth. This lack of understanding is especially apparent with respect to time horizon in young, entrepreneurial firms. I use linguistic analysis of IPO filing documents and other archival data to examine how the relative length of manager time horizon affects firm growth. Finally, to effectively examine hypotheses about non-monotonic relationships within the time horizon literature, I examine the model results to analyze the data using response surface methodology. This work contributes to cognitive theories on decision making as well as our understanding of how the behavioral theory of the firm affects the evolving relationship between a firm and its environment.
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Rights statement
  • In Copyright
Advisor
  • Edwards, Jeffrey
  • Bettis, Richard Allan
  • O'Neill, Hugh
  • Rockart, Scott
  • Hawn, Olga
Degree
  • Doctor of Philosophy
Degree granting institution
  • University of North Carolina at Chapel Hill
Graduation year
  • 2017
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