Corporate governance and IPO underpricing in a cross-national sample: A multilevel knowledge-based view

2.50
Hdl Handle:
http://hdl.handle.net/2436/620973
Title:
Corporate governance and IPO underpricing in a cross-national sample: A multilevel knowledge-based view
Authors:
Judge, William Q.; Witt, Michael A.; Zattoni, Alessandro; Talaulicar, Till; Chen, Jean Jinghan; Lewellyn, Krista; Hu, Helen Wei; Shukla, Dhirendra; Bell Robert, R. Greg; Gabrielsson, Jonas; Lopez, Felix; Yamak, Sibel; Fassin, Yves; McCarthy, Daniel; Rivas, Jose Luis; Fainshmidt, Stav; Van Ees, Hans
Abstract:
Prior studies of IPO underpricing, mostly using agency theory and single-country samples, have generally fallen short. In this study, we employ the knowledge-based view (KBV) to explore underpricing across 17 countries. We find that agency indicators are insignificant predictors, board of director knowledge limits underpricing, and external knowledge both substitutes for and complements internal board knowledge. This third finding suggests that future KBV studies should consider how internal and external knowledge states interact with each other. Our study offers new insights into the antecedents of underpricing and extends our understanding of comparative governance and the KBV of the firm.
Citation:
Corporate governance and IPO underpricing in a cross-national sample: A multilevel knowledge-based view 2015, 36 (8):1174 Strategic Management Journal
Publisher:
Wiley
Journal:
Strategic Management Journal
Issue Date:
Aug-2015
URI:
http://hdl.handle.net/2436/620973
DOI:
10.1002/smj.2275
Additional Links:
http://doi.wiley.com/10.1002/smj.2275
Type:
Article
Language:
en
ISSN:
01432095
Appears in Collections:
FOSS

Full metadata record

DC FieldValue Language
dc.contributor.authorJudge, William Q.en
dc.contributor.authorWitt, Michael A.en
dc.contributor.authorZattoni, Alessandroen
dc.contributor.authorTalaulicar, Tillen
dc.contributor.authorChen, Jean Jinghanen
dc.contributor.authorLewellyn, Kristaen
dc.contributor.authorHu, Helen Weien
dc.contributor.authorShukla, Dhirendraen
dc.contributor.authorBell Robert, R. Gregen
dc.contributor.authorGabrielsson, Jonasen
dc.contributor.authorLopez, Felixen
dc.contributor.authorYamak, Sibelen
dc.contributor.authorFassin, Yvesen
dc.contributor.authorMcCarthy, Danielen
dc.contributor.authorRivas, Jose Luisen
dc.contributor.authorFainshmidt, Staven
dc.contributor.authorVan Ees, Hansen
dc.date.accessioned2017-12-11T09:49:59Z-
dc.date.available2017-12-11T09:49:59Z-
dc.date.issued2015-08-
dc.identifier.citationCorporate governance and IPO underpricing in a cross-national sample: A multilevel knowledge-based view 2015, 36 (8):1174 Strategic Management Journalen
dc.identifier.issn01432095-
dc.identifier.doi10.1002/smj.2275-
dc.identifier.urihttp://hdl.handle.net/2436/620973-
dc.description.abstractPrior studies of IPO underpricing, mostly using agency theory and single-country samples, have generally fallen short. In this study, we employ the knowledge-based view (KBV) to explore underpricing across 17 countries. We find that agency indicators are insignificant predictors, board of director knowledge limits underpricing, and external knowledge both substitutes for and complements internal board knowledge. This third finding suggests that future KBV studies should consider how internal and external knowledge states interact with each other. Our study offers new insights into the antecedents of underpricing and extends our understanding of comparative governance and the KBV of the firm.en
dc.language.isoenen
dc.publisherWileyen
dc.relation.urlhttp://doi.wiley.com/10.1002/smj.2275en
dc.rightsArchived with thanks to Strategic Management Journalen
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectIPO Underpricingen
dc.subjectCorporate Governanceen
dc.subjectKnowledge-Based Viewen
dc.subjectCross-National Sampleen
dc.subjectMulti-Level Modelsen
dc.titleCorporate governance and IPO underpricing in a cross-national sample: A multilevel knowledge-based viewen
dc.typeArticleen
dc.identifier.journalStrategic Management Journalen
dc.contributor.institutionDepartment of Management, Old Dominion University; Norfolk Virginia U.S.A.-
dc.contributor.institutionEconomics & Political Science Area, INSEAD; Singapore Singapore-
dc.contributor.institutionStrategic and Entrepreneurial Management Department, SDA Bocconi School of Management; Milan Italy-
dc.contributor.institutionDepartment of Organization and Management, University of Erfurt; Erfurt Germany-
dc.contributor.institutionCentre of Accounting, Finance and International Banking, University of Southampton; Southampton U.K.-
dc.contributor.institutionDepartment of Management & Marketing, University of Wyoming; Laramie Wyoming U.S.A.-
dc.contributor.institutionDepartment of Management & Marketing, University of Melbourne; Melbourne Australia-
dc.contributor.institutionManagement and Entrepreneurship Department, University of New Brunswick; Fredericton New Brunswick Canada-
dc.contributor.institutionDepartment of Management, University of Dallas; Irving Texas U.S.A.-
dc.contributor.institutionCentre for Innovation, Research and Competence in the Learning Economy, Lund University; Lund Sweden-
dc.contributor.institutionDepartment of Finance & Accounting, University of Valladolid; Valladolid Spain-
dc.contributor.institutionDepartment of Management, Galatasaray University; Istanbul Turkey-
dc.contributor.institutionVlerick Business School; Ghent University; Gent Belgium-
dc.contributor.institutionDepartment of Management, Northeastern University; Boston Massachusetts U.S.A.-
dc.contributor.institutionITAM School of Business; Mexico City Mexico-
dc.contributor.institutionDepartment of Management & International Business, Florida International University; Miami Florida U.S.A.-
dc.contributor.institutionFaculty of Economics & Business, University of Groningen; Groningen The Netherlands-
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