Limited Attention, Motivated Institutional Investors, and IPO Survivability

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review

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Author(s)

  • Haoyu Gao
  • Ruixiang Jiang
  • Wei Liu
  • Junbo Wang
  • Chunchi Wu

Detail(s)

Original languageEnglish
Title of host publicationADVANCES IN PACIFIC BASIN BUSINESS, ECONOMICS AND FINANCE
EditorsCHENG-FEW LEE, MIN-TEH YU
PublisherEmerald Publishing Limited
Pages1-35
ISBN (Electronic)978-1-80043-870-5, 978-1-80043-872-9
ISBN (Print)978-1-80043-871-2
Publication statusPublished - 2021

Publication series

NameAdvances in Pacific Basin Business, Economics and Finance
PublisherEmerald Publishing Limited
Volume9
ISSN (Print)2514-4650

Abstract

Using initial public offering (IPO) involuntary delisting data, this chapter examines whether and how motivated institutional investors affect the survivability of IPO firms. The empirical evidence shows that the likelihood of future delisting is much lower for IPOs with more motivated institutional investors. This impact is more pronounced for firms with higher information asymmetry. The motivated institutional investors also facilitate better post-IPO operating performance. The results are consistent with the prediction of the limited attention theory.

Research Area(s)

  • Motivated institutional investors, IPO survivability, information asymmetry, operating performance, monitoring effect, analyst coverage

Bibliographic Note

Research Unit(s) information for this publication is provided by the author(s) concerned.

Citation Format(s)

Limited Attention, Motivated Institutional Investors, and IPO Survivability. / Gao, Haoyu; Jiang, Ruixiang; Liu, Wei; Wang, Junbo; Wu, Chunchi.

ADVANCES IN PACIFIC BASIN BUSINESS, ECONOMICS AND FINANCE. ed. / CHENG-FEW LEE; MIN-TEH YU. Emerald Publishing Limited, 2021. p. 1-35 (Advances in Pacific Basin Business, Economics and Finance; Vol. 9).

Research output: Chapters, Conference Papers, Creative and Literary Works (RGC: 12, 32, 41, 45)12_Chapter in an edited book (Author)peer-review