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The effects of entrepreneurial long-term commitment on post-IPO performance: Chinese evidence |
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| Authors: | Dongmin Kong Maobin Wang Xiyu Zhang |
| Institution: | 1. School of Economics, Huazhong University of Science and Technology, Wuhan, China2. School of Banking and Finance, University of International Business and Economics, 10 Huixindong Street, Chaoyang District, Beijing 100029, China3. Management School, Queen’s University Belfast, Belfast, Northern Ireland |
| Abstract: | Long-term commitment is a motivational factor that drives people towards entrepreneurship. Scholars and practitioners have lacked a robust and validated instrument for measuring long-term commitment and its dimensions in the specific context of entrepreneurship. Based on a unique dataset of emigration statuses of Chinese entrepreneurs, we develop an instrument of entrepreneurial long-term commitment and test its impacts on corporate outcomes and entrepreneurs’ individual behaviors. We observe that entrepreneurial long-term commitment significantly affects corporate policies, long-term shareholder wealth and entrepreneurs’ individual behaviors. Our research also helps to evaluate the values of these entrepreneurs in China. |
| Keywords: | Entrepreneur Long-term commitment IPO underperformance Foreign residency rights China |
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