What roles should corporate headquarters (CHQs) of multinational enterprises (MNEs) play in foreign subsidiary initiatives? Rather than viewing the MNE's CHQ as a single, internally homogenous unit, we call for examining the diversity of individual decision-makers who can be driven by a variety...

Securities regulators in China occasionally suspend their IPO market. We explore the impact of IPO market suspension on IPO pricing. We find that IPOs interrupted by market suspensions are eventually priced at a higher level. The positive impact of IPO suspension on IPO offer price is more...

Purpose This paper elucidates the role of anger in error management (EM) and organizational learning behaviors. The study explores how anger can catalyze learning, emphasizing its strategic implications. Design/methodology/approach A double-layered moderated-mediated model was developed and...

This is the first study of Rock's (1986) winner's curse hypothesis in which over-subscribed IPOs are allocated by a pure lottery mechanism. It employs a unique dataset of 562 Chinese IPOs 1996-2001 which provides information for the estimation of allocation-weighted returns. The results provide...

This paper investigates whether prospect theory (PT) or a preference for lottery-like gains on stocks can explain the peculiarities of IPO returns in China. Chinese IPOs offer investors two potential lottery-like gains. One is potentially huge first day returns as Chinese issuers leave more...

This paper argues that the documented post-share issue privatization (SIP) decline in profitability of divested Chinese companies is not evidence per se that China's SIP program is ineffective or unsuccessful. Instead, the positive privatization effect is often outweighed by a negative listing...

Previous studies show that profitability does not improve after share issue privatization (SIP) in China. We explore the possibility that the positive privatization effect can be overwhelmed by a negative listing effect, leading to an overall negative or insignificant SIP profitability change....

Previous studies show that profitability does not improve after share issue privatization (SIP) in China. We explore the possibility that the positive privatization effect can be overwhelmed by a negative listing effect, leading to an overall negative or insignificant SIP profitability change....