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SUMMARY:MTEI Seminar by Prof. Kenneth Young\, Purdue University
DTSTART:20150218T104500
DTEND:20150218T120000
DTSTAMP:20260530T140853Z
UID:de1ca110d2a7f3a92259912872e24b02a0e25371d27858de0cf2a4ee
CATEGORIES:Conferences - Seminars
DESCRIPTION:Prof. Kenneth Young\, Purdue University\n"Science and the Mobi
 lity Discount: Evidence from Initial Public Offerings"Abstract\nFor firms 
 to benefit from scientific research\, it is often important for key scient
 ists to remain with the firm. We develop theory and evidence of a “mobil
 ity discount” wherein markets value scientific research conducted within
  the firm\, but also discount firm value for the potential of losing key s
 cientists. In a sample of high-tech IPOs\, we show that markets discount f
 irm value by up to 12% when firms rely on key scientists. We also show tha
 t the mobility discount is greater in states that prohibit the enforcement
  of non-compete agreements and when science is more important to the firm.
 Keywords\nScience\, mobility discount\, employee mobility\, non-competes\,
  initial public offering
LOCATION:ODY 4.03 VIP Room http://plan.epfl.ch/?zoom=19&recenter_y=5863800
 .12869&recenter_x=731560.22521&layerNodes=fonds\,batiments\,labels\,inform
 ation\,parkings_publics\,arrets_metro\,transports_publics&floor=4&q=ODY_4.
 03
STATUS:CONFIRMED
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