Employee welfare, social capital, and IPO firm survival

Shima Amini; Sofia  Johan; Eilnaz Kashefi Pour; Abdul  Mohamed

doi:10.1177/10422587221120821

Employee welfare, social capital, and IPO firm survival

Shima Amini, Sofia Johan^*, Eilnaz Kashefi Pour, Abdul Mohamed

^*Corresponding author for this work

Finance

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Abstract

We examine the impact of employee welfare and social capital on the prospect of firms remaining quoted on a stock exchange. We analyze a panel sample of US-listed firms from 2000 to 2016 and track the outcome to the end of 2021. We find that entrepreneurial firms remain listed longer when employee welfare is better, and firms are located in a better social capital region. We also find that employee welfare positively complements the impact of social capital on prolonging the likelihood of remaining quoted. Our results are robust to endogeneity, effects of financial crises and COVID-19, and various model specifications.

Original language	English
Journal	Entrepreneurship Theory and Practice
Early online date	6 Nov 2022
DOIs	https://doi.org/10.1177/10422587221120821
Publication status	E-pub ahead of print - 6 Nov 2022

Keywords

IPO survival
employee welfare
social capital
firm exit

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10.1177/10422587221120821Licence: None: All rights reserved

AminiS2022Employee
Amini, S., Johan, S., Pour, E. K., & Mohamed, A. (2022). Employee Welfare, Social Capital, and IPO Firm Survival. Entrepreneurship Theory and Practice Copyright © The Author(s) 2022. DOI: 10.1177/10422587221120821.
Accepted author manuscript, 890 KBLicence: None: All rights reserved

Cite this

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Employee welfare, social capital, and IPO firm survival

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Keywords

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