Table 5
Logistic Regression Analyses
Dependent Variable =  Pursuit of Fast-Growth Strategy at Time of IPO

Fast Growth Strategy at Time of IPO (0/1)

Risk Factors (all dichotomous variables)

$

    s.e.

Employee Growth Risk Factors

Dependence on employees

1.08

.41

**

Managerial inexperience

.13

.69

Limited underwriter experience

-.54

.67

Competitive labor market

-.24

.36

Sales Growth Risk Factors

Competitive risk

1.05

.78

Customer dependence

-.12

.33

New product or service

.39

.37

Product dependence

.92

.55

+

Losing patent / not getting patent

-.59

.38

Seasonal business

-.12

.38

Supplier dependence

-.84

.36

*

Technological change / obsolescence

.99

.38

**

Additional Risk Factors

Legal proceedings

1.08

.57

+

Limited operating history

.62

.40

Constant

-3.76

1.53

**

Chi-square

45.78

**