The Role of TMTs Competitor-Specific & Competitor-Related Human Capital on IPO Performance

Autor:	Amanuel G. Tekleab, Tapan Seth, Jaegul Lee
Rok vydání:	2014
Předmět:	Finance Competitive dynamics business.industry Organizational learning Top management Position (finance) General Medicine Business Initial public offering Human capital Industrial organization Diversity (business) Panel data
Zdroj:	Academy of Management Proceedings. 2014:12111
ISSN:	2151-6561 0065-0668
DOI:	10.5465/ambpp.2014.12111abstract
Popis:	This study draws on research on human capital, organizational learning, and competitive dynamics to explore the role that top management team (TMT) members’ competitors-specific and competitor-related human capital has on young entrepreneurial firms’ IPO performance. Employing a multi-year panel data of new IPOs between the periods of 1995-2010 from the U.S. semiconductor industry, the results of this study show that the prevalence of competitor- specific and competitor-related knowledge in the TMTs of IPO firms leads to higher market valuations of the IPO firm. Additionally, the results show that the employment characteristics such as tenure and the position held at the source firm, the product-market diversity and the learning emphasis of the source firm moderate the relationship between competitor-specific (and competitor-related) human capital and IPO performance.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::72d6e4e332f49eeaabcb68da25bac038 https://doi.org/10.5465/ambpp.2014.12111abstract Zobrazit plný text záznamu