The effects of pre-IPO corporate activity on newly-public firms' growth

We investigate firms' pre-IPO corporate activity. We find that firms involved in extraordinary – i.e., beyond momentum – amounts of acquisitions, JVs, and alliances in the year leading up to their IPOs (1) are more likely to engage in post-IPO corporate activity; and (2) enter into their first post-IPO transaction twice as fast as other firms. Our results indicate that signaling via extraordinary corporate activity can have a significant effect on entrepreneurial firms’ growth. The implications are discussed.     

Re-distributed manufacturing and the food-water-energy nexus: opportunities and challenges

Abstract

Addressing the intersection of two important emerging research areas, re-distributed manufacturing (RDM) and the food-energy-water (FEW) nexus, this work combines insights from engineering, business and policy perspectives and explores opportunities and challenges towards a more localized and sustainable food system. Analysis centred on two specific food products, namely bread and tomato paste reveals that the feasibility and potential of RDM vary with the type of food product and the supply chain (SC) components. Physically, energy efficiency, water consumption and reduction of waste and carbon footprint may be affected by scale and location of production activities and potentials of industrial symbiosis. From the business perspective, novel products, new markets and new business models are expected in order for food RDM to penetrate within the established food industry. Studies on policies, through the lens of public procurement, call for solid evidence of envisioned environmental, social and economic benefits of a more localized food system. An initial integrated framework is proposed for understanding and assessing food RDM and the FEW nexus.