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Rate of substitution between economic and socioemotional wealth in family firm IPO underpricing

Research output: Contribution to Journal/Magazine › Journal article › peer-review

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Article number12090
<mark>Journal publication date</mark>2015
<mark>Journal</mark>Academy of Management Best Paper Proceedings
Volume2015
Publication StatusPublished
<mark>Original language</mark>English

Abstract

This study investigates differences in IPO underpricing between family and nonfamily firms. Using a sample of 1,743 IPOs occurring in seven European countries from 1995 to 2011, we show that the relationship between family firm status and IPO underpricing is contingent on the degree of share retention.