Download or read book The Effects of Management Board Ties on IPO Performance written by Salim Chahine and published by . This book was released on 2013 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the two potentially contrasting effects on IPO pricing and post-IPO operating performance of family ties as well as social ties the top management has with board members. While family ties may solve manager-owner conflicts of interests, they may also give rise to minority-shareholder expropriation and/or private benefits of control. Similarly, social ties may either create value or lead to entrenchment and excessive managerial power. Using q-analysis to measure the strength of top manager ties to board members, we find that IPO performance is positively related to the strength of social ties, but negatively to the strength of family ties. We also find that, controlling for social ties, board independence affects both IPO pricing and post-IPO operating performance. Further, we show that the association between IPO performance and ties depends on whether they are with inside or outside directors.
Download or read book Top Management Ties with Board Members written by Salim Chahine and published by . This book was released on 2014 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper is the first study on the effects of pay-performance sensitivity (PPS) on the performance of initial public offerings (IPOs) in the presence of social ties and family ties of the top managers with board members. We find that both social ties and family ties increase PPS. In turn, PPS improves IPO performance. More importantly, greater PPS increases the positive effect of social ties on IPO performance whereas it reduces the negative effect of family ties.
Download or read book Journal of China Marketing Volume 6 1 written by Robert Guang Tian and published by Cambridge Scholars Publishing. This book was released on 2016-02-08 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: This journal has been discontinued. Any issues are available to purchase separately.
Download or read book The Effects of IPO Team Ties on Investment Bank Affiliation and IPO Success written by Monica C. Higgins and published by . This book was released on 1999 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study analyzes how the extraorganizational ties of top managers affect firm behavior and performance at a critical juncture in a young firm's life - the initial public offering (IPO). We employ a typology of social capital, based on IPO team members' previous employment and board memberships, and develop hypotheses about how different types of social capital affect the prominence of the firm's investment bank at the time of its IPO and the size of the IPO. We used archival and qualitative data on the career histories of IPO team members of young firms in the biotechnology industry to examine the role of IPO teams' social capital in forming partnerships with prominent investment banks. In doing so, we consider how top management team-level social capital resulting from the employment histories of the firm's top managers affects the acquisition of organization-level social capital in the form of affiliations with prominent investment banks. We found that the prominence of a firm's investment bank depends upon the IPO team as a whole having substantial amounts of downstream and intra-industry social capital as well as the firm's range of social capital. We also found that the size of the IPO depends on specific types and combinations of an IPO team's social capital and the prominence of the firm's investment bank. We found little evidence that the prominence of the investment bank mediates the relationship between the IPO team's social capital and the size of the IPO. Implications of these findings for research on social networks, top management teams, and intermediaries are discussed.
Download or read book Competitiveness Organizational Management and Governance in Family Firms written by Camisón, Cesar and published by IGI Global. This book was released on 2019-11-22 with total page 459 pages. Available in PDF, EPUB and Kindle. Book excerpt: The "family effect" remains a challenge for researchers interested in both the family firm’s organizational form and in the effects of familial ownership on a firm's strategy, structure, and performance. Governance mechanisms, management quality, ownership concentration, and family involvement all have relevant effects in terms of influencing monitoring costs, investment decisions, the development of the portfolio of resources and capabilities, and family firm competitiveness. Nevertheless, few studies to date have opened the black box of the "family effect." Competitiveness, Organizational Management, and Governance in Family Firms is an essential reference source that makes a clear distinction between the separation of ownership and management, on the one hand, and the institutional development of family governance instruments, on the other, to help uncover the asymmetric effects of these two choices. It also allows the examination as to which of the two strategies employed in family firms reinforce managerial capital that has a greater positive impact on the "family effect," thus helping to achieve better managerial capabilities. Featuring research on topics such as corporate governance, private business, and successional leadership, this book is ideally designed for managers, executives, CEOs, company owners, consultants, business professionals, entrepreneurs, academicians, and researchers interested in an in-depth understanding of the keys to success and survival of family-operated organizations.
Download or read book The Palgrave Handbook of Heterogeneity among Family Firms written by Esra Memili and published by Springer. This book was released on 2018-09-05 with total page 1016 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook is the definitive source of research on the differences among family firms. It provides a timely and thorough investigation of the variant strategies and behaviors undertaken by family firms today, taking a closer look at different configurations of family involvement and how they influence outcomes and success. While studies on differences between family and non-family firms are deeply rooted in the literature, this handbook uniquely examines the family firm heterogeneity research to date and the inner firm governance, financial and non-financial objectives, and strategies such as innovation, competitive dynamics, internationalization, and human resources management. The handbook pulls together the work of the most prominent names in family business from around the world, separating itself from the competition both in content and geographical scope. Future research directions provided in each chapter will spark further interdisciplinary scholarly work, and will be enlightening for researchers, educators, and practitioners who are currently limited to the narrow and exclusive literature and advance the burgeoning research on this important topic.
Download or read book Banking Resilience New Insights On Corporate Governance Sustainability And Digital Innovation written by Sabri Boubaker and published by World Scientific. This book was released on 2024-01-23 with total page 534 pages. Available in PDF, EPUB and Kindle. Book excerpt: The banking industry plays a critical role in ensuring global economic and financial stability. Effective governance is essential for mitigating bank risk-taking and limiting managerial opportunism in this industry, which is constantly under regulatory and market scrutiny. However, the complexity and diversity of banking financial instruments and transactions gives rise to substantial information asymmetries and ongoing debates regarding contemporary governance, sustainability, and data innovation issues.This book is one of the first to address these contemporary issues collectively, offering a comprehensive and holistic understanding of the challenges and opportunities facing the global banking industry. It provides new insights, evidence-based recommendations, and future perspectives on the role of governance mechanisms, digital innovation, climate change, and green finance in shaping the industry pre- and post-COVID-19. The book is a valuable resource for a wide range of stakeholders in the banking sector, including international regulators, practitioners, policymakers, institutional investors, and auditors. It features contributions from renowned international scholars and offers a variety of theoretical, empirical, and policy-based perspectives. It provides updated evidence and new insights crucial for rethinking the global banking model and dominant regulations, and offers evidence-based recommendations and measures for promoting financial stability and resilience in this industry.
Download or read book The Effect of the Board of Directors on IPO Performance Evidence from GCC IPOS from 2006 to 2008 written by Amal Latif Zeitouny and published by . This book was released on 2009 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analyzing factors affecting IPO underpricing has received considerable attention in the financial literature. Most studies have indicated that the factor that m ostly contributes to underpricing is the information asymmetry; and as better co rporate governance reduces information asymmetry, it should also lower underpric ing. Relying on prior literature and focusing on the board of directors side of corporate governance, this paper tries to shed some light on the effect of the b oard of directors on underpricing, using IPOs listed on the GCC exchanges betwee n January 2006 and September 2008. Using regression analysis and controlling for other company and market parameter s, this paper could not find a strong relationship between any of the board of d irectors provisions considered - namely board size, board composition and board ownership retention - and underpricing. Therefore, it can be inferred that under pricing in the GCC market is affected by other factors that are characteristics of the GCC region, possibly the ownership of the company by influential GCC fami lies.
Download or read book The Effect of Board Size on Underpricing of IPOs written by Rekha Handa and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance mechanisms are being widely researched for their impact on different measures of corporate performance. Board structure being a dominant means of monitoring and governance for sustaining the competition and improving financial and overall performance, forms an integral part of these mechanisms. The present paper explores the size of the board as a governance method and its relationship with Initial Public Offering (IPO) performance, IPOs being a unique setting to establish the contribution of corporate governance in general and boards in specific. The study investigates specifically board size to explore its independence as a governance mechanism and contribution in explaining the initial returns of an IPO.
Download or read book Signalling IPO Initial Performance Information Asymmetry Malaysian Evidence written by Signalling IPO Initial Performance Information Asymmetry Malaysian Evidence and published by Archers & Elevators Publishing House. This book was released on with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Long Run Performance of IPOs written by Arif Khurshed and published by . This book was released on 2014 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: We propose that the long-run performance of IPOs is a function of pre-IPO factors, including managerial decisions and the firm's performance prior to going public. We relate long-run performance to a much richer set of explanatory factors than in the previous literature. Using a number of variables, we provide empirical evidence in support of this proposition. The manner in which a company is run before it is listed on the stock exchange gives a strong signal of how its shares will perform in its first few years of coming to the market. Using a UK data set, we find that the percentage of equity issued and the degree of multinationality are key predictors of IPO performance. A revised version of this paper is forthcoming in Managerial Finance, Vol. 33, No. 6, pp. 401-419, 2007.
Download or read book Executive Board Member Financial Expertise and IPO Performance written by Michael Ettredge and published by . This book was released on 2019 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study investigates the effects on initial public offering (IPO) outcomes of the existence and type of financial expertise of chief executive officers (CEOs) and chief financial officers (CFOs) serving on their own IPO firms' boards. For brevity we refer to these executives as executive board members. We investigate the effects of three types of executive board member financial expertise: that obtained via accounting-based, user-based, and supervisory-based work experience. The results suggest that executive board members having accounting-based experience appear to use that knowledge and experience to decrease information asymmetry at IPO, leading to lower underpricing of initial offerings. Neither of the other two types of financial expertise for executive board members helps to improve IPO underpricing. We also find that executive board members with accounting-based experience are associated with shorter IPO preparation times, and less downward IPO offer price adjustments. Our study suggests that IPO firms experience benefits when executives having accounting expertise serve on their boards.
Download or read book All Ties are Not Created Equal written by Yong Li and published by . This book was released on 2017 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study examines whether and how different types of institutional ties affect new venture performance at different organizational stages. We propose that equity ties to government agencies will enhance the speed and returns of IPO but hinder post-IPO market growth. By contrast, we posit that equity ties to research institutes will contribute positively to both IPO performance and post-IPO market growth. We build our arguments on how the two types of institutional ties meet new ventures' need to be legitimate and competitive pre- and post-IPO. We test our hypotheses with new ventures in the pharmaceutical and chemical industries that went public in China and find supportive evidence for our arguments.
Download or read book The Ethical Contribution of Organizations to Society written by Michael Schwartz and published by Emerald Group Publishing. This book was released on 2015-11-09 with total page 219 pages. Available in PDF, EPUB and Kindle. Book excerpt: Papers in this volume of Research in Ethical Issues in Organizations discuss what an organization provides to society and explains the ethical aspects of that contribution. The volume also explores the ethics of the customer's response in society to what an organization provides, including product boycotts and social approval or condemnation.
Download or read book Research Handbook on Boards of Directors written by Jonas Gabrielsson and published by Edward Elgar Publishing. This book was released on 2019 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt: Boards of directors are complex systems, and it is imperative to understand what the contextual forces are that shape the direction and make-up of boards. This Research Handbook provides inspiration for researchers and practitioners interested in the manifold dimensions and facets of context surrounding boards of directors.
Download or read book The Effect of IPO Performance on the Implicit Spread of Subsequent Issues written by Dimitris G. Rovatsos and published by . This book was released on 1994 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Institutional Distance and Foreign IPO Performance written by Robert Gregory Bell and published by ProQuest. This book was released on 2000 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt:
