Abstract
Corporate Governance and Foreign IPO Underpricing: A Configurational Approach
Academy of Management Annual Meeting Proceedings, Vol.2020(1), p.11665
08/2020
DOI: 10.5465/AMBPP.2020.11665abstract
Abstract
Abstract only
Drawing on a configurational approach fuzzy-set Qualitative Comparative Analysis (fs/QCA), the study investigates different bundles of governance mechanisms that can mitigate information asymmetry surrounding foreign IPO firms in the U.S. capital market, thereby affecting their IPO performance. With a focus on relatively unexplored role of debt governance in the context of foreign IPOs, we examine how debt interacts with various governance practices and changes effective configurations of equity-based governance mechanisms. Finally, the empirical results demonstrate multiple governance bundles coexist that can effectively mitigate information asymmetry in the U.S. capital markets and lead to low underpricing, i.e. equifinality; and the constellations of governance mechanisms that lead to high underpricing are fundamentally and qualitatively different from those lead to low underpricing, i.e. asymmetric causality."
Details
- Title: Subtitle
- Corporate Governance and Foreign IPO Underpricing: A Configurational Approach
- Creators
- Zhihan Shen - National School of Development at Peking UIgor Filatotchev - King's College LondonRyan Adam Krause - Texas Christian University
- Resource Type
- Abstract
- Publication Details
- Academy of Management Annual Meeting Proceedings, Vol.2020(1), p.11665
- DOI
- 10.5465/AMBPP.2020.11665abstract
- eISSN
- 2151-6561
- Language
- English
- Date published
- 08/2020
- Academic Unit
- Management and Entrepreneurship
- Record Identifier
- 9984937782802771
Metrics
2 Record Views