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This paper aims to examine the impact of a firm’s governance characteristics on the signals released during the initial public offering (IPO) process. This paper focuses on the role of the firm’s founder and how different signals convey or diminish agency issues of adverse selection and moral hazard prior to IPO. This study also explores the performance impact (underpricing) of firm founder involvement on signal effectiveness.

This paper examines 122 firms during the IPO process to determine the influence that the founder’s presence, position and ownership has on signaling behaviors as well as on firm performance.

The authors find that founders influence how often the firm files amendments to the prospectus. Furthermore, the results suggest that agency-reducing signals are complicated and can interact to enhance either positive or negative signals that impact underpricing at IPO.

The findings offer insights concerning how signalers can more effectively manage multiple signals that may interact negatively with firm characteristics. This study also provides contributions to both signaling and agency theories, discusses implications for practitioners and suggests opportunities for future research.

This has important implications for founders and managers of firms approaching IPO. The results suggest that founders are better off filing fewer addendums to their S-1 during the IPO process as this decreases underpricing. Underwriters and investors will be interested in these outcomes as identifying signals is an important factor when pricing firm valuation. Similarly, investors seek to identify firms that have a higher likelihood of underpricing because underpricing increases investor recognition and subsequent long-term impact on performance.

The findings offer insights concerning how signalers can more effectively manage multiple signals that may interact negatively with firm characteristics. The authors extend research in entrepreneurship and marketing by exploring indirect ways firms can communicate to investors using signaling, to increase value during the IPO process. This study provides contributions to both signaling and agency theories, discusses implications for practitioners and suggests opportunities for future research.

In this article, we examine the impact of repeat interactions between VCs and underwriters. Past research has suggested that such interactions build trust and may contribute to more equitable treatment of issuing firms. We adopt an alternative perspective and suggest that these repeat interactions are characterized by reciprocal exchanges facilitated by opportunistic behavior from the VC. Our analysis demonstrates that VCs and underwriters interact in order to appropriate greater value from the IPO. This article provides a more complete understanding of repeat interactions between the VC and the underwriter by identifying characteristics of the relationship that have an impact on the value of the IPO.

The purpose of this paper is to examine small business owners’ informal advice-seeking from peers, with a focus on the opportunities afforded by the internet for owners to acquire assistance from other owner-managers outside their local community.

Over 600 owner-managers in a rural US state were surveyed about their advice-seeking during the previous year from peers in the same community, from non-local peers they had met in person, and from peers known only online. Mixed effects logistic regression analysis was used to test both main effects of business and owner characteristics on advice-seeking and interactions with type/location of peer advisors.

Most owners had received advice from peers, and one-third had received advice online from a peer whom they had never met in person. Business performance was not associated with overall use of peer advice, but did interact significantly with source; the use of online-only advisors was associated with business growth, suggesting the possible benefit of weak ties. Over two-thirds of respondents reported having used social media and/or online forums to access advice or support from other owners (both those met in person and those not), with women and younger owners more likely to rely on such tools.

This study shows that entrepreneurial research needs to consider peer advisors beyond local networks as potential resources for small business owners. While previous research has examined entrepreneurs’ use of social media for marketing, this study shows its utility for accessing advice.

Recent advancements in electrified transportation have been necessitated by the need to reduce environmentally harmful emissions. Accordingly, several aviation organisations and governments have introduced stringent emission reduction targets for 2050. One of the most promising technologies proposed for achieving these targets is turboelectric distributed propulsion (TeDP). The objective of this study was to explore and identify key indicators for enhancing the applicability of TeDP in air transportation.

An enhancement valuation method was proposed to overcome the challenges associated with TeDP in terms of technological, economic and environmental impacts. The result indicators (RIs) were determined; the associated performance indicators (PIs) were analysed and the key RIs and PIs for TeDP were identified. Quantitative measurements were acquired from a simulated TeDP case study model to estimate the established key PIs.

It was determined that real-world TeDP efficiency could be enhanced by up to 8% by optimising the identified key PIs.

This study is the first to identify the key PIs of TeDP and to include a techno-economic environmental risk analysis (TERA) based on the identified key PIs. The findings could guide developers and researchers towards potential focus areas to realise the adoption of TeDP.