The factors that investment bankers take into account when pricing IPO firms are examined.Following a review of the literature on investment bankers and the initial public offering process, it is hypothesized that larger, older firms with sizable, prestigious boards, pre-IPO profitability, and...

This research extends agency theory by exploring the influence of diverse, and competing, principal interests on executive actions. Findings reveal that dedicated institutional investors, who hold concentrated portfolios over time, are positively associated with strategic competitive actions....