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

Research output: Contribution to journal › Article › peer-review

92 Downloads (Pure)

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

Access to Document

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

@article{ac46892083d740b69aa1376b0f4bc06f,

title = "Employee welfare, social capital, and IPO firm survival",

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.",

keywords = "IPO survival, employee welfare, social capital, firm exit",

author = "Shima Amini and Sofia Johan and {Kashefi Pour}, Eilnaz and Abdul Mohamed",

year = "2022",

month = nov,

day = "6",

doi = "10.1177/10422587221120821",

language = "English",

journal = "Entrepreneurship Theory and Practice",

issn = "1042-2587",

publisher = "Wiley",

}

TY - JOUR

T1 - Employee welfare, social capital, and IPO firm survival

AU - Amini, Shima

AU - Johan, Sofia

AU - Kashefi Pour, Eilnaz

AU - Mohamed , Abdul

PY - 2022/11/6

Y1 - 2022/11/6

N2 - 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.

AB - 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.

KW - IPO survival

KW - employee welfare

KW - social capital

KW - firm exit

U2 - 10.1177/10422587221120821

DO - 10.1177/10422587221120821

M3 - Article

SN - 1042-2587

JO - Entrepreneurship Theory and Practice

JF - Entrepreneurship Theory and Practice

ER -

Employee welfare, social capital, and IPO firm survival

Abstract

Keywords

Access to Document

Fingerprint

Cite this