Competitive posture and IPO performance in high technology firms

Small to medium sized technology firms significantly impact the national and world economy and it is paramount that the best-managed firms have long term success. Empirical analysis must determine the competitive posture that will enhance performance and increase success rates for this population. This research examines the competitive posture of 168 high technology initial public offering (IPO) firms from 1992 and their short term and long term performance. Content analysis of the IPO prospectus provides the source of data for the variables. The research supports the hypotheses that pioneering competitive posture outperform others in the population.