CFO Resignation in IPO Years, Pre-IPO Earnings Management and Post-IPO Performances: Evidence from Newly-Listed Chinese Companies

Category: FourA 2017

Abstract: Using a sample of newly-listed Chinese firms, we find that almost 30 percent of chief financial officers (CFOs) resign shortly within one year after initial public offerings (IPO). The companies from which the CFOs resign within IPO years tend to experience a decline in operating performances in IPO...

Tags: Corporate Finance and Capital Markets   Corporate Governance