IPO survival and CEOs’ decision-making power: The evidence of China

Adams, 2005, Powerful CEOs and their impact on corporate performance, Rev. Financ. Stud., 18, 1404, 10.1093/rfs/hhi030 Andrews, 2000, The people/performance balance in IPO firms: the effect of CEO's financial orientation, Entrep. Theory Practice, 25, 93, 10.1177/104225870002500108 Aslan, 2011, Lemons and cherries? Growth opportunities and market temptations in going public and private, J. Financ. Quant. Anal., 46, 489, 10.1017/S0022109010000761 Bach, 2007, Are powerful CEOs beneficial to post-IPO survival in high technology industries? An empirical investigation, J. High Technol. Manag. Res., 18, 31, 10.1016/j.hitech.2007.03.002 Bancel, 2008, Why European firms go public?, Eur. Financ. Manag., 15, 844, 10.1111/j.1468-036X.2009.00501.x Beamish, 1993, The characteristics of joint ventures in the People's Republic of China, J. Int. Market., 1, 29, 10.1177/1069031X9300100203 Beatty, 1994, Managerial incentives, monitoring, and risk bearing: a study of executive compensation, ownership, and board structure in initial public offerings, Admin. Sci. Q., 39, 313, 10.2307/2393238 Berkman, 2014, Improving corporate governance where the State is the controlling block holder: evidence from China, Eur. J. Finance, 20, 752, 10.1080/1351847X.2012.671784 Bertrand, 2003, Managing with style: the effect of managers on firm policies, Q. J. Econ., 118, 1169, 10.1162/003355303322552775 Bharath, 2006, To be or not to be (public). Using going private transactions to examine why firms go public Bharath, 2010, Why do firms use private equity to opt out of public markets?, Rev. Financ. Stud., 23, 1772, 10.1093/rfs/hhq016 Bourgeois, 1984, Strategic implementation: five approaches to an elusive phenomenon, Strateg. Manag. J., 5, 241, 10.1002/smj.4250050305 Bradley, 2006, Penny stock IPOs, Financ. Manag., 35, 5, 10.1111/j.1755-053X.2006.tb00129.x Brau, 2006, Initial public offerings: an analysis of theory and practice, J. Finance, 61, 399, 10.1111/j.1540-6261.2006.00840.x Brockmann, 2004, The impact of CEO duality and prestige on a bankrupt organization, J. Manag. Issues, 16, 178 Carpentier, 2011, The survival and success of Canadian penny stock IPOs, Small Bus. Econ., 36, 101, 10.1007/s11187-009-9190-x Certo, 2001, Wealth and the effects of founder management among IPO-stage new ventures, Strateg. Manag. J., 22, 641, 10.1002/smj.182 Certo, 2003, Giving money to get money: how CEO stock options and CEO equity enhance IPO valuations, Acad. Manag. J., 46, 643, 10.2307/30040655 Chen, 2004, Determinants of capital structure of Chinese-listed companies, J. Bus. Res., 57, 1341, 10.1016/S0148-2963(03)00070-5 Cherry, 2003, A cross cultural application of a theoretical model of business ethics: bridging the gap between theory and data, J. Bus. Ethics, 44, 359, 10.1023/A:1023615520293 Child, 2001, China's transition and its implications for international business, J. Int. Bus. Stud., 32, 5, 10.1057/palgrave.jibs.8490935 Cole, 1996, Perceptions of business ethics: students vs. business people, J. Bus. Ethics, 15, 889, 10.1007/BF00381856 Daily, 1997, Sources of CEO power and firm financial performance: a longitudinal assessment, J. Manag., 23, 97 Deshpande, 1997, Managers’ perception of proper ethical conduct: the effect of sex, age, and level of education, J. Bus. Ethics, 16, 79, 10.1023/A:1017917420433 Donaldson, 1990, The ethereal hand: organizational economics and management theory, Acad. Manag. Rev., 15, 369, 10.5465/amr.1990.4308806 Donaldson, 1991, Stewardship theory or agency theory: CEO governance and shareholder returns, Aust. J. Manag., 16, 49, 10.1177/031289629101600103 Donaldson, 1983 Espenlaub, 2012, IPO survival in a reputational market, J. Bus. Finance Acc., 39, 427, 10.1111/j.1468-5957.2012.02280.x Finkelstein, 1992, Power in top management teams: dimensions, measurement, and validation, Acad. Manag. J., 35, 505, 10.2307/256485 Finkelstein, 1994, CEO duality as a double-edged sword: how boards of directors balance entrenchment avoidance and unity of command, Acad. Manag. J., 37, 1079, 10.2307/256667 Fischer, 2004, Effects of social capital and power on surviving transformational change: the case of initial public offerings, Acad. Manag. J., 47, 463, 10.2307/20159597 Griffin, 2010 Haleblian, 1993, Top management team size, CEO dominance, and firm performance: the moderating roles of environmental turbulence and discretion, Acad. Manag. J., 36, 844, 10.2307/256761 Hambrick, 1981, Environment, strategy, and power within top management teams, Adm. Sci. Q., 26, 253, 10.2307/2392472 Harald, 2004, Effects of social capital and power on surviving transformational change: the case of initial public offerings, Acad. Manag. J., 47, 463, 10.2307/20159597 Hofstede, 2001 Jain, 1999, The life cycle of initial public offering firms, J. Bus. Finance Acc., 26, 1281, 10.1111/1468-5957.00298 Jensen, 1976, Theory of the firm: managerial behavior, agency costs, and ownership structure, J. Financ. Econ., 3, 305, 10.1016/0304-405X(76)90026-X Kashefi Pour, 2013, Why do companies delist voluntarily from the stock market?, J. Bank. Finance, 37, 4850, 10.1016/j.jbankfin.2013.08.022 Kleinbaum, 1996 Kroll, 2007, The impact of board composition and top management team ownership structure on post-IPO performance in young entrepreneurial firms, Acad. Manag. J., 50, 1198, 10.2307/20159920 Lester, 2006, Initial public offering investor valuations: an examination of top management team prestige and environmental uncertainty, J. Small Bus. Manag., 44, 1, 10.1111/j.1540-627X.2006.00151.x Leuz, 2008, Why do firms go dark? Causes and economic consequences of voluntary SEC deregistration, J. Acc. Econ., 45, 181, 10.1016/j.jacceco.2008.01.001 Li, 2010, CEO hurries and firm risk taking in China: the moderating role of managerial discretion, Acad. Manag. J., 53, 45, 10.5465/AMJ.2010.48036912 Liu, 2005, The impact of voluntary foreign delistings: an empirical analysis, J. Emerg. Markets, 10, 22 Marosi, 2007, Why do firms go dark?, J. Financ. Quant. Anal., 42, 421, 10.1017/S0022109000003331 Mason, 1996, Gender and ethical orientation: a test of gender and occupational socialization theories, J. Bus. Ethics, 15, 599, 10.1007/BF00411793 Michaely, 1994, The pricing of initial public offerings: tests of adverse selection and signalling theories, Rev. Financ. Stud., 7, 279, 10.1093/rfs/7.2.279 Nelson, 2003, The persistence of founder influence: management, ownership, and performance effects at initial public offerings, Strateg. Manag. J., 24, 707L 724, 10.1002/smj.328 Okleshen, 1996, A cross cultural comparison of ethical perspectives and decision approaches of business students: United States of America versus New Zealand, J. Bus. Ethics, 15, 537, 10.1007/BF00381929 Pagano, 1998, Why do companies go public? An empirical analysis, J. Finance, 53, 27, 10.1111/0022-1082.25448 Peng, 2007, CEO duality and firm performance during China's institutional transitions, Manag. Org. Rev., 3, 205, 10.1111/j.1740-8784.2007.00069.x Pennings, 1998, Human capital, social capital, and firm dissolution, Acad. Manag. J., 41, 425, 10.2307/257082 Pfeffer, 1977 Pfeffer, 1978 Pi, 1993, Corporate control and bank efficiency, J. Bank. Finance, 17, 515, 10.1016/0378-4266(93)90050-N Pitcher, 2001, Top management team heterogeneity: personality, power and proxies, Org. Sci., 12, 1, 10.1287/orsc.12.1.1.10120 Rechner, 1991, CEO duality and organizational performance: a longitudinal analysis, Strateg. Manag. J., 12, 155, 10.1002/smj.4250120206 Ritter, 1987, The costs of going public, J. Financ. Econ., 19, 269, 10.1016/0304-405X(87)90005-5 Roozen, 2001, The ethical dimensions of decision processes of employees, J. Bus. Ethics, 33, 87, 10.1023/A:1017536222355 Ruegger, 1992, A study of the effect of age and gender upon student business ethics, J. Bus. Ethics, 11, 179, 10.1007/BF00871965 Sanders, 2001, Behavioral responses of CEOs to stock ownership and stock option pay, Acad. Manag. J., 44, 477, 10.2307/3069365 Serwinek, 1992, Demographic and related differences in ethical views among small businesses, J. Bus. Ethics, 11, 555, 10.1007/BF00881448 Smith, 1997, Gender-related differences in ethical and social values of business students: implications for management, J. Bus. Ethics, 16, 37, 10.1023/A:1017995530951 Tsalikis, 1990, Ethical beliefs’ differences of males and females, J. Bus. Ethics, 9, 509, 10.1007/BF00382844 Volkema, 2002, Alternative negotiating conditions and the choice of negotiating tactics: a cross-cultural comparison, J. Bus. Ethics, 36, 381, 10.1023/A:1014496017565 Weeks, 1999, The effects of gender and career stage on ethical judgment, J. Bus. Ethics, 20, 301, 10.1023/A:1005955501120 Welbourne, 1996, Predicting performance of IPOs: should human resource management be in the equation?, Acad. Manag. J., 39, 891, 10.2307/256716 Wilbon, 2002, Predicting survival of high-technology initial public offering firms, J. High Technol. Manag. Res., 13, 127, 10.1016/S1047-8310(01)00052-9 Wimalasiri, 1996, An empirical study of moral reasoning among managers in Singapore, J. Bus. Ethics, 15, 1331, 10.1007/BF00411818 Witmer, 2006 Wright, 2002, The structure of ownership and corporate acquisition strategies, Strateg. Manag. J., 23, 41, 10.1002/smj.208 Zeune, 1993, Ducks in a row: orchestrating the flawless stock offering, Corp. Cashflow, 14, 18