Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes
Past research on initial public offers (IPO) marketing highlights the positive impact of underwriters’ efforts on the post-IPO marketing and financial outcomes for the IPO issuer firms but the exact mechanism underlying these ‘carry-over’ effects is still not clear. We address this important researc...
| Main Authors: | , , |
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| Format: | Journal Article |
| Published: |
2023
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| Online Access: | http://hdl.handle.net/20.500.11937/91641 |
| _version_ | 1848765565507731456 |
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| author | Cheng, L.T.W. Sharma, Piyush Yan, S. |
| author_facet | Cheng, L.T.W. Sharma, Piyush Yan, S. |
| author_sort | Cheng, L.T.W. |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | Past research on initial public offers (IPO) marketing highlights the positive impact of underwriters’ efforts on the post-IPO marketing and financial outcomes for the IPO issuer firms but the exact mechanism underlying these ‘carry-over’ effects is still not clear. We address this important research gap by exploring the impact of total underwriting effort (i.e., combined efforts by underwriters and other players involved in IPO issuance) on the issuer firms’ post-IPO performance and the mediating role of IPO issuer satisfaction in this process. We test all the hypotheses using data from the China Stock Market and Accounting Research (CSMAR) database on 2,013 IPOs listed on Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE). Our findings provide a holistic view of the complex marketing forces that drive the total underwriting effort on the IPO issuer firms’ post-IPO performance, and the focal role played by IPO issuer satisfaction in this process. |
| first_indexed | 2025-11-14T11:37:16Z |
| format | Journal Article |
| id | curtin-20.500.11937-91641 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T11:37:16Z |
| publishDate | 2023 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-916412023-05-24T08:35:04Z Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes Cheng, L.T.W. Sharma, Piyush Yan, S. Past research on initial public offers (IPO) marketing highlights the positive impact of underwriters’ efforts on the post-IPO marketing and financial outcomes for the IPO issuer firms but the exact mechanism underlying these ‘carry-over’ effects is still not clear. We address this important research gap by exploring the impact of total underwriting effort (i.e., combined efforts by underwriters and other players involved in IPO issuance) on the issuer firms’ post-IPO performance and the mediating role of IPO issuer satisfaction in this process. We test all the hypotheses using data from the China Stock Market and Accounting Research (CSMAR) database on 2,013 IPOs listed on Shanghai Stock Exchange (SSE) and Shenzhen Stock Exchange (SZSE). Our findings provide a holistic view of the complex marketing forces that drive the total underwriting effort on the IPO issuer firms’ post-IPO performance, and the focal role played by IPO issuer satisfaction in this process. 2023 Journal Article http://hdl.handle.net/20.500.11937/91641 10.1016/j.jbusres.2023.113928 restricted |
| spellingShingle | Cheng, L.T.W. Sharma, Piyush Yan, S. Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes |
| title | Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes |
| title_full | Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes |
| title_fullStr | Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes |
| title_full_unstemmed | Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes |
| title_short | Success begets success! Exploring the carry-over effects of total underwriting effort on post-IPO issuer firm outcomes |
| title_sort | success begets success! exploring the carry-over effects of total underwriting effort on post-ipo issuer firm outcomes |
| url | http://hdl.handle.net/20.500.11937/91641 |