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Specialist CEOs and IPO survival

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15 February 2017

Time: 1:00 - 2:00pm
Venue: 4.04/4.08 Bancroft Building

Speaker name and affiliation

Prof Dimitrios Gounopoulos, Professor (Chair) in Finance - Newcastle University Business School

Specialism

Bond Issues, Capital Structure, Commodities, Dividend Policy, Earnings Management, Educations of CEOs, Executive Compensation, Finance, Gold and Precious Metals, Industrial Metals, Initial Public Offering, International Accounting Issues, Pension Funds and Political and Connections

Seminar title

Specialist CEOs and IPO survival

Abstract

We investigate the influence of a CEO’s specialist managerial experience on the probability of failure and survivability of IPO firms. We document that IPO firms led by specialist CEOs have a lower probability of failure and higher survival 5 rates in subsequent periods following the offering. Our findings suggest that specialist CEOs enhance the ability of IPO firms to remain viable for a longer period of time, which is also consistent with the upper echelons theory’s predictions about the influence of managerial experience on corporate outcomes..

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