TMT functional complementarity and post-IPO performance: Evidence from the U.S. biotechnology industry

Li, Jun

doi:10.1016/j.lrp.2021.102178

Cited by 4 publications

(1 citation statement)

References 109 publications

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“…The study believes that TMT's functional complementarities have a positive impact on the company's performance after IPO. In addition, the administrative discretion positively regulates this relationship through the measurement of CEO duality and TMT's internal board membership (Li, 2022). Heo and Ryoo investigated whether the issuer's accounting reporting attributes would affect the initial return of Korean emerging market bond issuance.…”

Section: Related Workmentioning

confidence: 99%

Analysis of TMT heterogeneity and IPO underpricing of listed companies in the low carbon economy sector: Evidence from China’s stock market

Zhou

Gao²,

Ren³

2023

Front. Energy Res.

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Introduction: Issuance pricing is an important part of the operation of the securities market. Its pricing is directly related to the interests of issuers, investors and underwriters, as well as the regulatory and resource allocation functions of the securities issuance market. When the industry expectations vary greatly, the company has greater TMT heterogeneity. When the market expectation gap expands, the possibility of risk conversion increases. IPO underpricing occurs in stocks of developed countries, developing countries and emerging countries. Because the issuer and the underwriter investors have different information, for example, the information advantage of the underwriter will bring risks to investors when purchasing IPO shares. IPO underpricing is a compensation for the risks brought by information asymmetry.Methods: At present, little attention has been paid to how the value of listed companies affects the underpricing of intellectual property. This paper will fill in this gap and empirically study the impact of management ability of senior management team on IPO underpricing. Therefore, starting from the Chinese stock market, this paper studies the evidence of vertical parallel executives, heterogeneity of senior management team and IPO underpricing.Results: The average values of NCSKEW (C1) and DUVOL (C2) were −0.301 and −0.203, respectively, which were close to the descriptive statistics of the study.Discussion: The dependent variable data in this paper has certain reliability. The minimum value of NCSKEW is −0.361 and the maximum value is 0.392, indicating that the fragmentation risk of different stocks is relatively high.

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Section: Related Workmentioning

confidence: 99%

Analysis of TMT heterogeneity and IPO underpricing of listed companies in the low carbon economy sector: Evidence from China’s stock market

Zhou

Gao²,

Ren³

2023

Front. Energy Res.

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IPOs and knowledge management practices: a systematic literature review and future research agenda

Nirino,

Battisti,

Erben

et al. 2024

JKM

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Purpose The purpose of this paper is to explore the connection between initial public offerings (IPOs) and knowledge management (KM). Specifically, the manuscript critically examines the literature on IPOs and KM underlying how KM practices influence the IPO processes of companies. Design/methodology/approach The authors employ a systematic literature review methodology to identify and thematically investigate 21 articles published in journals by the Chartered Association of Business Schools (ranked 2, 3, 4, 4*). Findings This research sheds new light on the relevance of KM practices in the context of IPOs. Specifically, the authors identify four crucial aspects concerning companies that opt for an IPO: (i) reasons for IPO and the role of KM; (ii) IPO process and the role of KM; (iii) underpricing and the role of KM; (iv) post-IPO and the role of KM. Originality/value This paper shows the pivotal role of effective KM strategies in fostering a successful IPO. Additionally, it provides practical recommendations for companies seeking to effectively harness their intellectual assets during the IPO process.

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Returnee executives and corporate fraud: Evidence from China

Zeng,

Ren,

Zhong

2024

Business Ethics Env & Resp

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Whether and when returnee executives influence corporate fraud remains an important unresolved theoretical and practical problem. Referencing upper echelons theory and the literature on managerial discretion, we propose that firms with more returnee executives are more likely to engage in corporate fraud. In addition, we propose that the relation between returnee executives and corporate fraud is subject to organizational indicators that reflect executives’ managerial discretion. Specifically, we propose that long‐term performance surplus and corporate visibility diminish the positive impact of returnee executives on corporate fraud. We use privately controlled Chinese public firms, including 11,519 firm‐year observations of 2215 privately controlled Chinese public firms from 2010 to 2021, as our research object and adopt a bivariate probit model to investigate our theoretical assumptions. Our test results are consistent with our predictions. This study enhances the existing understanding of the dark side of returnee executives from a corporate fraud perspective.

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TMT functional complementarity and post-IPO performance: Evidence from the U.S. biotechnology industry

Cited by 4 publications

References 109 publications

Analysis of TMT heterogeneity and IPO underpricing of listed companies in the low carbon economy sector: Evidence from China’s stock market

Analysis of TMT heterogeneity and IPO underpricing of listed companies in the low carbon economy sector: Evidence from China’s stock market

IPOs and knowledge management practices: a systematic literature review and future research agenda

Returnee executives and corporate fraud: Evidence from China

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