TY  - CHAP
AB  - Abstract In this study, we examine the relationship between political connections of private firms and the initial public offering process. Using registration statement information, we create a unique database of politically connected IPO firms. We find that political connections are substitutes to high-quality underwriters and big four auditors. Politically connected firms manage earnings more highly upward than non-connected firms prior to the public offering. Politically connected firms also exhibit less underpricing than non-connected firms. Finally, politically connected IPO firms have superior post-IPO returns relative to non-connected IPO firms.
VL  - 18
SN  - 978-1-78560-355-6, 978-1-78560-354-9/1569-3732
DO  - 10.1108/S1569-373220150000018005
UR  - https://doi.org/10.1108/S1569-373220150000018005
AU  - Houston Reza
AU  - Ferris Stephen P.
PY  - 2015
Y1  - 2015/01/01
TI  - Corporate Political Connections and the IPO Process: The Benefits of Politically Connected Board Members and Managers
T2  - International Corporate Governance
T3  - Advances in Financial Economics
PB  - Emerald Group Publishing Limited
SP  - 125
EP  - 163
Y2  - 2024/04/27
ER  -