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dc.contributor.authorLeunbach, Daniel
dc.contributor.authorMathisen, Marius Tuft
dc.contributor.authorJohnson, Alan Richard
dc.contributor.authorKnockaert, Mirjam
dc.date.accessioned2018-03-26T12:10:32Z
dc.date.available2018-03-26T12:10:32Z
dc.date.created2018-03-19T11:28:19Z
dc.date.issued2017
dc.identifier.issn2151-6561
dc.identifier.urihttp://hdl.handle.net/11250/2492111
dc.description.abstractMany authors have pointed to the strength of insider ownership as a signal in environments with high information asymmetries. Despite the assumed potential of insider ownership, studies in several contexts have provided inconclusive results. As we contend in this paper, the lack of agreement on this signal is caused by contingency and time effects which have largely been neglected in the signaling literature. By consequence, we study the impact of insider ownership in a context characterized by high levels of uncertainty, namely that of academic spin-offs. Particularly, building on signaling theory, we study the relationship between insider ownership and likelihood of acquisition, hereby taking into consideration that the impact of the signal is affected by ownership-related contingency factors and time effects. We pursue our research objectives using the total population of 370 Norwegian spin-offs founded between 1999 and 2011, of which 32 were acquired. Applying discrete event history analysis, our findings show that the relationship between insider ownership and acquisition likelihood is reinforced by the presence of professional investors as shareholders. Furthermore, this interaction effect is strengthened over time, with professional investor ownership particularly enforcing insider ownership effects as the venture matures. We discuss implications for theory and practice.nb_NO
dc.language.isoengnb_NO
dc.publisherAcademy of Managementnb_NO
dc.titleSignaling Through Insider Ownership: Interaction and Time Effects in Technology Acquisitionsnb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.description.versionacceptedVersionnb_NO
dc.source.journalAcademy of Management. Annual Meeting Proceedingsnb_NO
dc.identifier.doi10.5465/AMBPP.2017.203
dc.identifier.cristin1573898
dc.description.localcode© 2017. This is the authors' accepted and refereed manuscript to the article. The final authenticated version is available online at: http://www.emeraldinsight.com/doi/full/10.1108/13552511011084526nb_NO
cristin.unitcode194,60,25,0
cristin.unitnameInstitutt for industriell økonomi og teknologiledelse
cristin.ispublishedtrue
cristin.fulltextoriginal
cristin.qualitycode1


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