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Under What Circumstances Are Chinese Entrepreneurs Reluctant To Go Public, Ting Huang Jun 2022

Under What Circumstances Are Chinese Entrepreneurs Reluctant To Go Public, Ting Huang

Dissertations and Theses Collection (Open Access)

As secondary stock markets often overestimate corporate value, many Chinese entrepreneurs seek to achieve their wealth targets by going public. However, some companies in China do not want to go public. This paper utilises multi-case research methods to develop theories about which factors lead to corporate reluctance to go public. Case studies show that compared with entrepreneurs with lower shareholdings, entrepreneurs with higher shareholdings have stronger long-term orientations and a greater desire for control and are more reluctant to go public. Industry characteristics affect entrepreneurs’ long-term orientation, desire for control, and early listing experience, thus influencing their listing decision-making. Empirical …

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Everything You Always Wanted To Know About Ipos* But Were Afraid To Ask, Joseph E. Levangie Jan 2005

Everything You Always Wanted To Know About Ipos* But Were Afraid To Ask, Joseph E. Levangie

New England Journal of Entrepreneurship

Many entrepreneurs want to reach high to the heavens to achieve unlimited success. These hardworking, often underappreciated, venturers often crave fame and fortune as they strive to create their personal business legacy. One strategic path many have wandered down is that of the Initial Public Offering (IPO), whereby shares of the company are sold to the public. The IPO has many strong attractions. Large amounts of capital can be brought into the company.The company’s stock can be used as currency to acquire other companies. Early investors realize a good ROI. Employees can perceive real value in their stock options. Customers, …

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A Comparative Analysis Of The Performance Of Emerging Versus Nonemerging Industry Initial Public Offerings, Todd A. Finkle, Reinhold Lamb Dec 2001

A Comparative Analysis Of The Performance Of Emerging Versus Nonemerging Industry Initial Public Offerings, Todd A. Finkle, Reinhold Lamb

Todd A Finkle

This study fills a gap in previous research by investigating differences between the short and long run aftermarket performance in a sample of emerging versus non-emerging industries. Utilizing the entire population of biotechnology, semiconductor, and Internet IPOs from 1993-1996 as a representative sample of emerging industries, this study found that emerging firms were significantly underpriced compared to a set of non-emerging IPOs.

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An Examination Of Initial Public Offerings In The “High Flying” Internet Industry, Todd A. Finkle, Dan French Dec 1997

An Examination Of Initial Public Offerings In The “High Flying” Internet Industry, Todd A. Finkle, Dan French

Todd A Finkle

This study examines the underpricing and aftermarket performance of the emerging industry of biotechnology. Findings indicate that the average first day return for the biotech firms was 1.8 and 1.6 percent. Furthermore, the biotech firms significantly underperformed the NASDAQ (-30.7%) and NYSE (-16.5%) over a two-year period after going public.

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The Relationship Between Boards Of Directors And Initial Public Offerings In The Biotechnology Industry, Todd A. Finkle Dec 1997

The Relationship Between Boards Of Directors And Initial Public Offerings In The Biotechnology Industry, Todd A. Finkle

Todd A Finkle

Utilizing the entire population of public biotechnology firms from 1980-1994, three models were tested to determine if a relationship exists between the size and composition of the board of directors with performance. Results indicate significant positive relationships between director expertise and the size of a firm’s initial public offering. Going public during hot markets and larger firms were also related to larger initial public offerings. These findings will benefit practitioners in the formation of boards within the biotechnology industry. Managers of firms within the biotechnology industry who are contemplating a public offering will be able to proactively address the composition …

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