An empirical study on founder background and company performance——Evidence from listed Chinese companies in the U.S.
| Autor: | Wang, Qian-Wen, 王倩雯 |
|---|---|
| Rok vydání: | 2018 |
| Druh dokumentu: | 學位論文 ; thesis |
| Popis: | 107 This paper uses the initial public offering data of 180 Chinese listed companies in the United States from 2000 to 2017 to study the background of the founders and company performance of listed companies in the United States. The contribution of this paper, Firstly, we study the companies listed in the US by the perspective of the background characteristics of the founders. It is found that the younger the founder is, the more experience he has in studying abroad, the easier it is to use the Dual-Class listing. Secondly, in terms of company performance, the single and dual companies are compared and analyzed through profitability indicators. It is not related to the company's profitability to find out whether the company adopts a Dual-Class. Finally, on the basis of previous studies, the sample period was extended, using 180 sample company data from 2000 to 2017, argument from the perspective of the company's R&D expenses, companies with dual equity ratios will invest more R&D fees after IPOs, and have longer-term plans for the company's future. And the company’s choice of Dual-Class structure is largely due to the size of the company and the exposure of wealth risks, while the founders and company management want to have sufficient control over the company and not want to take on too high a Risk, so it will choose to adopt a Dual-Class structure to go public. |
| Databáze: | Networked Digital Library of Theses & Dissertations |
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