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This study examines the issue of whether audit quality contracted by issuers at the time of going public is associated with post‐IPO survival. Survival analysis methodology is applied to estimate the probability of post‐IPO time to failure as a function of audit quality. Through estimation of the Cox‐Proportional Hazards models, we find that audit quality is significantly related to post‐IPO time to failure both in isolation and in the presence of other covariates that influence firm survival. Further, the association between audit quality and post‐IPO survival is stronger when investment bank prestige is low.

The effect of prestigious CEOs on firm performance is not clear. By integrating resource dependence and agency theories, this paper aims to focus on how prestigious CEOs affect firm performance and how informal relations between the CEO and outside directors affect agency costs and resource benefits associated with prestigious CEOs.

The authors use ordinary least squares (OLS) regression to analyze their data set, which is conducted by a sample of 4,226 Chinese listed firms from 2009 to 2013. The authors also use OLS regression to assess the sensitivity and robustness of their findings.

The findings indicate that prestigious CEOs are significantly and positively associated with firm performance. Moreover, the authors find the effect of prestigious CEOs on firm performance is more pronounced when prestigious outside directors interact with prestigious CEOs. Guanxi – a Chinese concept similar to camaraderie – attenuates this association, particularly when the CEO and outside directors share the same surname.

Future research should consider whether there is a mediating link between prestigious affiliates (i.e. CEOs) and firm performance.

This paper provides two practical implications. First, China Securities Regulatory Commission policymakers should pay more attention to outside directors’ quality and ability and their informal guanxi with the CEO. Second, prestigious CEOs may also have potential costs.

This study contributes to corporate governance literature and CEO-board relations literature by shedding light on how resource dependence and agency theories apply to corporate governance.

This paper aims to investigate the paradox of whether prestigious goods help or inhibit a consumer’s social affinity. The goal of this research is to explore whether pursuit of prestigious goods increases consumers’ social affinity or decreases their social affinity, and, more importantly, to understand the mechanisms that drive this process.

Three laboratory experimental studies and a social network study are conducted to show that consumers hold inconsistent beliefs about the social implication of prestigious goods.

In Study 1, the authors showed that prestigious goods evoked stronger social affinity for the self than for the other. In Study 2, the authors showed that people evaluated themselves high in social affinity when they brought a prestigious wine to a party compared to when they brought a cheaper, generic wine, but evaluated others low in social affinity when they brought the same prestigious wine. In Study 3, the authors showed the mediating effects of social image and boastfulness on social affinity. Study 4 utilizes social network study to further validate previous findings in a field setting.

For high-end retailers, the authors suggest framing their promotional messages to explicitly highlight how owning prestigious goods will benefit them (i.e. social image). It is important that these retail managers (and salespeople alike) make it more salient on how their prestigious goods socially benefit the consumer (the self). Thus, it is important to get consumers to think about how a prestigious item looks on them and not on others. However, marketers must be prudent when constructing these messages, as the link between prestigious consumption and network development is merely perceptual.

The findings demonstrate that consuming prestigious goods increases social affinity via positive social image for the self. When evaluating others, the authors demonstrate that consuming prestigious goods decreases social affinity via boastfulness. In sum, owning prestigious items may seem beneficial socially to the self, but people have negative perceptions (boastfulness) of those who own the same prestigious goods. Hence, there seems to be a discrepancy in how the authors evaluate themselves versus how they evaluate others with the same prestigious goods.

Prior research underscores the critical role of prestigious underwriters in shaping the success of the initial public offering (IPO) process, particularly for young firms that do not have much of a track record. Recent scholarly work has shown that the likelihood of a start-up securing a lead prestigious underwriter is influenced by its ability to provide important signals of organizational legitimacy, as conveyed in the employment experiences of the firm's top management team. Building further on theories of organizational attention and decision making, this chapter seeks to examine whether lead prestigious underwriters also consider different types of signals of organizational legitimacy that might be suggested by the existence of ties between young firms and corporate venture capital (CVC) investors.Analysis of 1830 IPOs during 1990–1999 indicates that having a tie to CVC investor provides added legitimacy value over that provided by independent venture capital investors alone. Further analysis of 315 IPOs affiliated with CVC investors suggests that prestigious underwriters pay attention primarily to endorsement-rather than resource-related signals of legitimacy when it comes to CVC ties, and that they pay more attention to investment screening prominence than to business management prominence when it comes to endorsement legitimacy. We also found that prestigious underwriters pay more attention to signals of IPO legitimacy provided by CVC investment in IPO markets that are hot than those that are cold. Our findings provide important theoretical extensions to the study of the certification value of interorganizational affiliations and its impact on IPO success.

The purpose of this study was to examine the antecedents and consequences of brand prestige in the private country club industry. More specifically, it was proposed that five attributes of a private country club form brand prestige: golf course conditions, service quality during a round, food and beverage cart service, golf shop and clubhouse food and beverage service. In addition, it was also hypothesized that brand prestige can result in three managerial outcomes: social value, brand attachment and brand loyalty. During the theory-building process, it was proposed that brand consciousness moderates the relationship between brand prestige and its outcome variables.

Based on the theoretical relationships between the conceptual constructs, a model was proposed and then tested utilizing data collected from 290 amateur golfers in the USA.

Data analysis results show that four attributes of a private country club (all except for food and beverage cart service) help to enhance brand prestige and, thus, aid in the creation of social value, brand attachment and brand loyalty. Lastly, brand consciousness plays a moderating role in the relationship between brand prestige and brand loyalty.

First, private country clubs are required to consider golf course management before (e.g. hiring top golf architects) and after operating the club (e.g. hiring competent golf course managers). Second, private country clubs need golf course rangers with much experience who can properly manage pace of play. Third, the golf shop needs to prepare diverse souvenirs that well symbolize the private country club. Fourth, the clubhouse at private country clubs needs to provide services at the same level as that found in fine dining restaurants.

Despite the important role played by the prestigious image, no research has attempted to empirically test its influence on the private country club industry. Therefore, this study is the first to apply the concept of brand prestige to the private country club industry. In this regard, the study extends the existing literature on brand prestige by finding the antecedents and consequences in the private country club industry.

We examine and compare current practices in teaching preparation in U.S. accounting, finance, management, and economics doctoral programs.

We conduct an anonymous online survey of the pedagogical training practices experienced by Ph.D. students in accounting, finance, management, and economics programs in the United States.

Results indicate that accounting, finance, and management perform similarly with respect to providing doctoral students with first-hand teaching experience and requiring for-credit courses in teacher training. Accounting and management appear to utilize doctoral students as teaching assistants less than the other disciplines. A lower proportion of accounting doctoral students indicate that their program requires proof of English proficiency prior to teaching, and pedagogical mentoring is rare across disciplines. Accounting and management doctoral students feel more prepared to teach undergraduate courses compared to finance and economics students. However, all disciplines indicate a relative lack of perceived preparation to teach graduate courses.

This study provides empirical evidence of the current practices in pedagogical training of accounting, finance, management, and economics doctoral students.

The results highlight several areas where accounting could possibly improve with regard to pedagogical training in doctoral programs. In particular we suggest (1) changes in the teaching evaluation process, (2) development of teaching mentorships, (3) implementing a teaching portfolio requirement, and (4) incorporation of additional methods of assisting non-native English speakers for teaching duties.

The study fills a gap in the literature regarding the pedagogical training in accounting doctoral programs.

This chapter investigates whether non venture-backed, venture-backed and bridge financed companies going public on Germany’s Neuer Markt differ with regard to issuer characteristics, balance sheet data or offering characteristics. Moreover, this chapter contributes to the underpricing literature by focusing on the role of venture capitalists and underwriters in certifying the quality of a company. Companies backed by a prestigious venture capitalist and/or underwritten by a top bank are expected to show less underpricing at the Initial Public Offering (IPO) due to reduced ex-ante uncertainty. This analysis provides evidence to the contrary: VC-backed IPOs appear to be more underpriced than non VC-backed IPOs.

The purpose of this paper is to assess the educational value of prestigious and productive Spanish scholarly publishers based on mentions of their books in online scholarly syllabi.

Syllabus mentions of 15,117 books from 27 publishers were searched for, manually checked and compared with Microsoft Academic (MA) citations.

Most books published by Ariel, Síntesis, Tecnos and Cátedra have been mentioned in at least one online syllabus, indicating that their books have consistently high educational value. In contrast, few books published by the most productive publishers were mentioned in online syllabi. Prestigious publishers have both the highest educational impact based on syllabus mentions and the highest research impact based on MA citations.

The results might be different for other publishers. The online syllabus mentions found may be a small fraction of the syllabus mentions of the sampled books.

Authors of Spanish-language social sciences and humanities books should consider general prestige when selecting a publisher if they want educational uptake for their work.

This is the first study assessing book publishers based on syllabus mentions.

To investigate if consumer online patronage is influenced by product category and online store type.

Building on the prior work in this area by the authors and other researchers the study collected data in two phases to investigate the study hypotheses.

The study results suggest that consumers' online patronage is differed based on product type. Interaction effects of the online stores and product type were significant too. Additionally, the rank order of importance of the Internet attribute varied among the three types of online retailers.

The study results should be replicated in other markets. Future studies may also include a variety of different types of online outlets to improve the conclusiveness of the findings reported in this study.

The results should be of interest to the online retailers in choosing the types of merchandise and services to emphasis in the retailers marketing program.

The paper should be of interest to academicians as well as practitioners as it contributes to the small but growing literature in the area of online retailing. It adds to the literature on the product classification paradigm as well as offers practical guidelines for managers.

In this paper, the authors aim to propose that status differentiation, the extent to which people differentiate their behaviors or attribute power to others according to perceived status differences, moderates the effect of stretch direction upward or downward and brand image prestige or functional on consumers 2019 responses to line extensions.

This study was a 2 (culture: Chinese vs American) × 2 (stretch direction: up vs down) × 2 (brand image: prestige vs functional) experiment design. Study 2 was a 2 (status differentiation: high vs low) × 2 (stretch direction: up vs down) × 2 (brand image: prestige vs functional) experiment design.

The results of two studies show that high status differentiation has a positive prestige-enhancement effect on an upward extension but a detrimental effect on a downward extension. This effect is more pronounced for prestige brands than for functional brands. In addition, the authors have found similar patterns for the prestige perceptions of the parent brands after extension.

This research makes important contributions to the fields of cross-cultural psychology. The status differentiation beliefs could be primed temporarily and had a significant impact on individuals’ responses to line extension.

The research identifies status differentiation as an important factor for marketers to consider when extending their brands to global markets.

Past research on vertical extensions has examined numerous factors influencing consumers’ responses. This paper is the only one to examine culture factor.