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A study of the impact of top manager's Taisui on IPO

Published: 04 June 2024 Publication History

Abstract

Since people's cognition and behavior are developed and determined by their culture and beliefs, more and more research begin to study their influence on the IPO underpricing. This paper takes the age characteristics of the senior management team to explore the influence of the Taisui culture of the senior management team on IPO. It is found that senior executives' Taisui has a significant positive effect on the IPO underpricing. One possible reason of this may be top managers are more cautious about IPO in their Taisui years, and thus lower the price of their shares to support the IPO.

References

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Shanghai University
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Gao Jie, Luo Ting, Yin Huijun. Working Capital Management, Executive Team Characteristics, and IPO Underpricing [J]. Finance and Accounting Communication, 2017, (33): 94-98+131.
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Ren Yong, Zhou Xiaohua, Liu Yaosen. Empirical study on the impact of executive background characteristics and corporate innovation on IPO underpricing [J]. Science and Economics, 2019, 32 (06): 71-75.
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Yi Zhigao, Zhu Ting, Pan Zhen, Hu Jianxiong. Executive media experience, media coverage, and IPO first day performance [J] Foreign Economics and Management, 2019, 41 (11): 15-27.
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Ren Chenglin, Cao Guohua, Lin Chuan. Rational emotions, irrational emotions, and IPO pricing [J] Journal of Management Engineering, 2019, 33 (4): 88-96.

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BDET '23: Proceedings of the 2023 5th International Conference on Big Data Engineering and Technology
July 2023
33 pages
ISBN:9798400707537
DOI:10.1145/3631701
Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than the author(s) must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected].

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Association for Computing Machinery

New York, NY, United States

Publication History

Published: 04 June 2024

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Author Tags

  1. Financial performance
  2. IPO, Listed company
  3. Key words:Taisui

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BDET 2023

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