Daria Davydova

My research explores the intersection of innovation, finance, and corporate strategy, focusing on how firms assess and leverage innovation outcomes. Specifically, I investigate why some firms choose to innovate internally and delay IPOs, while others pursue external growth through mergers and acquisitions or opt to go public. By examining the influence of financial and organizational structures on these strategic decisions, my work aims to understand how radical and incremental innovation strategies affect firm performance and long-term market success.

Empirical Corporate Finance: Innovations, Private Equity, Venture Capital, M&A

Davydova, D. (2024). Radical vs. Incremental Innovation in M&A: Determinants and Performance Outcomes. Working Paper.
Davydova, D., Fahlenbrach, R., Sanz, L., & Stulz, R.M. (2024). Why Do Startups Become Unicorns Instead of Going Public? Working Paper.