Wealth and The Effects of Fonder Management Among IPO - Stage New Ventures  

Oleh:

Certo, S. Trevis ; Covin, Jeffrey G. ; Daily, Catherine M. ; Dalton, Dan R.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Strategic Management Journal vol. 22 no. 6-7 (2001), page 641-658.
Topik: WEALTH; founder management; initial public offerings (IPOs); going public; underpricing

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: SS30.7 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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Isi artikel

IPO underpricing is inherently related to both wealth retention and wealth creation. This paper reviews the relationship between IPO underpricing and wealth, then presents the result of an empirical study of the impact of CEO founder status (i. e. is the CEO also the founder ?) on IPO underpricing. Result based on data collectred from 368 IPO - stage new ventures suggest that founder management has a positive impact on IPO underpricing, and that the founder management - underpricing relationship is moderated by : a. the IPO market share of the investment banker employed, and b. the proportionof insiders on the IPO fim's board of directors.

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