著者

Masamichi OGAMI

出版者

グローバルビジネスリサーチセンター・東京大学MERC

雑誌

Annals of Business Administrative Science (ISSN:13474464)

巻号頁・発行日

vol.15, no.4, pp.187-197, 2016-08-15 (Released:2016-08-15)

参考文献数

12

被引用文献数

4

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This paper employs data on patent applications for the glass industry’s float process from 1954 through 2015. Furthermore, it assesses whether the S-curve of technological progress emerges. Assigning time to the horizontal axis, something like the S-curve emerges in the US and Europe but not in Japan. The S-curve represents the physical limits of technology. Specifically, Foster (1986) defined the S-curve as the function that expresses the relation between the amount of effort expended toward performance improvement and its outcome. The magnitude of the effort expended depends on the company as well as social factors. This paper performs company-level analysis using actual data to examine (1) the extent to which companies respond to the demands of the market and (2) the effect of the grant-back clauses in licensing agreements suggested by Ogami (2015).

著者

Takeyasu Ichikohji Koji Nakano Masamichi Ogami

出版者

Global Business Research Center

雑誌

Annals of Business Administrative Science (ISSN:13474464)

巻号頁・発行日

vol.21, no.2, pp.47-60, 2022-04-15 (Released:2022-04-15)

参考文献数

26

被引用文献数

1

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This study examines how the performance of startups during the time period up to their initial public offering (IPO) is affected by the macro environment, a topic that has not been given much consideration to date. Taking the end of 2012 (the beginning of Abenomics), when Japan’s economic environment shifted to a hot market, as the transition point, we analyzed companies that did IPOs in terms of such variables as the target market, the attributes of the companies in the sample (type of entrepreneurship), and the date of their actual establishment. We found that for those companies operating in an economically favorable environment, the average time period from startup to IPO was relatively long. This could be because an economically favorable environment and improved business conditions spurred startups that had been implementing a wait-and-see attitude. We have some reservations about using “time to IPO” naively as a performance indicator, and caution should be exercised when using it.