"Governance, Signaling and the Acquisition of IPO Ventures" was the title of the paper presented by Lowell Busenitz (University of Oklahoma). It is a study conducted by the presenter and other three Co-Authors: Jason Harkins, Richard Johnson and Robert Hoskisson about the importance of anti-takeover provisions and other strategic signals potentially indicating acquisition activity within five years of IPO. A set of seven hypotheses on a sample of 258 tech-based IPO ventures has been provided. Six of the seven hypotheses have been supported. Results have showed that anti-takeover mechanisms are not deterrents to IPO takeover and key manager/owners want greater control over firm outcomes.
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