Innovation, appropriability, and the underpricing of initial public offerings
Article Abstract:
The role of innovation in the underpricing of initial public offerings (IPOs) is investigated by using the information asymmetries theory of underpricing. The results have shown that the uncertainty in the process, relationships and intellectual property protection that surround an innovation has contributed to underpricing and hence limits the value a firm gains at the time of its IPO.
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 2007
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The burden of celebrity: The impact of CEO certification contests on CEO pay and performance
Article Abstract:
The results from Financial World's widely publicized certification contest, CEO of the Year are used to investigate the impact of such contest on firm performance and executive compensation. The results indicate that certified CEOs received higher compensation than noncertified CEOs when performance was high but lower compensation when performance was poor.
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 2006
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Effects of social capital and power on surviving transformational change: the case of initial public offerings
Article Abstract:
The effects of social capital and the power of venture capitalists on initial public offering (IPO) firm survival are examined. The results reveal that average management team tenure and IPO's deal's network embeddedness decreased the likelihood of the firm's failure for first five years.
Publication Name: Academy of Management Journal
Subject: Business, general
ISSN: 0001-4273
Year: 2004
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