Employee welfare, social capital, and IPO firm survival

Shima Amini; Sofia Johan; Eilnaz Kashefi Pour; Abdulkadir Mohamed

doi:10.1177/10422587221120821

Employee welfare, social capital, and IPO firm survival

Shima Amini
, Sofia Johan^* (Corresponding Author)
, Eilnaz Kashefi Pour
, Abdulkadir Mohamed

^*Corresponding author for this work

Business Management

University of Leeds
University of Birmingham
Florida Atlantic University

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

15 Citations (Scopus)

14 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 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
Pages (from-to)	2174-2204
Number of pages	31
Journal	Entrepreneurship Theory and Practice
Volume	47
Issue number	6
Early online date	6 Nov 2022
DOIs	https://doi.org/10.1177/10422587221120821
Publication status	Published - 6 Nov 2023
Event	British Academy of Management 2021 Conference - Online Event, United Kingdom Duration: 31 Aug 2021 → 3 Sept 2021 https://virtual.oxfordabstracts.com/#/event/1821/program?session=27106&s=0

Bibliographical note

We would like to thank Sophie Manigart, anonymous referees, Anastassia Vilderson, and the participants at the BAM 2020 and 2021 Conference, Huddersfield Business School Staff seminar series 2021, Newcastle Business School Finance seminar series 2021, and European Financial Management Meeting Conference 2022 for valuable comments and feedback. All errors are ours.

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 15 Life on Land

Keywords

IPO survival
employee welfare
social capital
firm exit

Access to Document

10.1177/10422587221120821Licence: Unspecified

Amini_etal_ETP_Employee_Welfare_Social_AAM
© The Author(s) 2022. reuse is restricted to non-commercial and no derivative uses. The final published version of this article is available at https://doi.org/10.1177/10422587221120821 Amini, S., Johan, S., Pour, E. K., & Mohamed, A. (2022). Employee Welfare, Social Capital, and IPO Firm Survival. Entrepreneurship Theory and Practice, 0(0). https://doi.org/10.1177/10422587221120821
Accepted author manuscript, 341 KBLicence: Other

Cite this

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KW - social capital

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Employee welfare, social capital, and IPO firm survival

Abstract

Bibliographical note

UN SDGs

Keywords

Access to Document

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