How Different Institutional Logics Affect the Female CEO Gender Effect on IPO Underpricing in China
نویسندگان
چکیده
Female entrepreneurs and CEOs generally face greater challenges in securing funding to exploit entrepreneurial opportunities, yet contextual factors under which such are more likely arise less understood. We find that female-led initial public offerings (IPOs) incur IPO underpricing, but this effect is moderated by their ownership structure, reflecting different institutional logics these firms operate. Specifically, the positive relationship between female underpricing attenuated venture capitalist ownership, whereas a exacerbated state ownership. Based on sample of 958 IPOs China 2009 2015, study corroborates findings.
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ژورنال
عنوان ژورنال: Entrepreneurship Theory and Practice
سال: 2023
ISSN: ['1540-6520', '1042-2587']
DOI: https://doi.org/10.1177/10422587231170210