The effects of entrepreneurial long-term commitment on post-IPO performance: Chinese evidence |
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| Authors: | Dongmin Kong Maobin Wang Xiyu Zhang |
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| Institution: | 1.School of Economics,Huazhong University of Science and Technology,Wuhan,China;2.School of Banking and Finance,University of International Business and Economics,Beijing,China;3.Management School,Queen’s University Belfast,Belfast,Northern Ireland |
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| 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. |
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