Article ID Journal Published Year Pages File Type
5089424 Journal of Banking & Finance 2013 17 Pages PDF
Abstract
► We find that founder CEOs maintain higher post-IPO cash holdings relative to non-founder CEOs. ► Investors assign a higher marginal value to post-IPO cash reserves in the hands of founder CEOs. ► Governance influences deployment of excess cash reserves. ► Excess cash reserves lead to superior post-IPO operating performance in competitive industries.
Keywords
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
Preview
Governance, product market competition and cash management in IPO firms
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