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Top management ties with board members: how they affect pay-performance sensitivity and IPO performance

Chahine, Salim and Goergen, Marc 2014. Top management ties with board members: how they affect pay-performance sensitivity and IPO performance. Journal of Corporate Finance 27 , pp. 99-115. 10.1016/j.jcorpfin.2014.04.007

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Abstract

This paper is the first study on the effects of pay–performance sensitivity (PPS) on the performance of initial public offerings (IPOs) in the presence of social ties and family ties of the top managers with board members. We find that both social ties and family ties increase PPS. In turn, PPS improves IPO performance. More importantly, greater PPS increases the positive effect of social ties on IPO performance whereas it reduces the negative effect of family ties.

Item Type: Article
Date Type: Publication
Status: Published
Schools: Business (Including Economics)
Additional Information: PDF uploaded in accordance with publisher's policy at http://www.sherpa.ac.uk/romeo/issn/0929-1199/ [accessed 09/10/14]
Publisher: Elsevier
ISSN: 0929-1199
Date of First Compliant Deposit: 7 July 2020
Date of Acceptance: 20 April 2014
Last Modified: 07 Jul 2020 17:15
URI: http://orca-mwe.cf.ac.uk/id/eprint/64127

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