What is it about?
we explore underpricing in 17 countries and find that director knowledge limits underpricing. External knowledge both complements and substitutes internal board knowledge. Firm knowledge is more important for underpricing in less developed countries
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Why is it important?
Multinational firms aspiring to do IPOs of foreign subsidiaries could use this insights to better design their boards overseas
Read the Original
This page is a summary of: Corporate governance and IPO underpricing in a cross-national sample: A multilevel knowledge-based view, Strategic Management Journal, May 2014, Wiley, DOI: 10.1002/smj.2275.
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