Specialist CEOs and IPO Survival
Specialist CEOs and IPO Survival
复制标题
专家首席执行官与 IPO 生存
DOI：
10.1016/j.jcorpfin.2017.10.012
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发表时间：
2018
期刊：
影响因子：
--
通讯作者：
H. Pham
中科院分区：
文献类型：
--
作者：
D. Gounopoulos;H. Pham
本研究探讨了专家CEO对首次公开募股（IPO）公司失败概率和生存能力的影响。本文根据CEO过去的工作经历构建了一个通才技能指数，将CEO分为专家型和通才型。专家型首席执行官在特定的职能角色、公司和行业领域追求职业生涯，而多面手型首席执行官则通过各种职位、公司和行业积累工作经验。我们发现了强有力的证据表明，拥有专业CEO的IPO公司在发行后的后续时期内失败的概率较低，生存时间较长。研究结果表明，专家管理能力对新上市公司的上市后绩效有显著影响。此外，专业CEO的激励措施可能与公司及其股东的激励措施更加一致;因此，他们更有可能在更长的时间内提高IPO公司的生存能力。
This study examines the influence of specialist CEOs on the probability of failure and survivability of initial public offering (IPO) firms. We construct a generalist skills index based on CEOs' past employment history in order to classify CEOs into specialist and generalist ones. Specialist CEOs pursue a career in particular functional roles, firms and industry sectors, as opposed to generalist CEOs who accumulate their work experience through various positions, firms and industries. We uncover strong evidence that IPO firms with a specialist CEO have a lower probability of failure and a longer time to survive in subsequent periods following the offering. The findings suggest that specialist managerial ability has significant implications for post-issue performance of newly listed firms. Additionally, specialist CEOs may have incentives that are more aligned with those of the firm and its shareholders; thus, they are more likely to enhance the viability of IPO firms for a longer period of time.
构建可分析 TOP mRNA 聚 A 链延伸机制的报告基因表达系统
DOI：
--
发表时间：
2021
期刊：
影响因子：
--
作者：
井上 匠;山崎 愛恵;細田 直;星野 真一
通讯作者：
星野 真一