Arcand, Jean-Philippe (2004) Institutional and strategic implications of founder-ceo transitions in firms issuing initial public offerings. Masters thesis, Concordia University.
![[img]](http://spectrum.library.concordia.ca/style/images/fileicons/application_pdf.png)
| PDF - Accepted Version 3685Kb |
Abstract
Some of the most highly recognized CEOs were the entrepreneurial creators of their firms. These CEOs distinguished themselves, not only by starting their firms, but also by successfully managing them for long periods of time after they issued initial public offerings (IPOs) and became public. Considering such successes, it seems reasonable to ask the following question: Why do founders have a bad reputation among Venture Capitalists and Investment Bankers? Tashakori (1980) notes that Venture Capitalists realize that they put pressure on founders to leave their CEO positions. However, empirical research supporting the replacement of the Founder is limited. In this research, I examine the effect of replacing the founder with a professional CEO in firms that are issuing an initial public offering on a US stock exchange between 1996 and 2000. It is found that replacing the founder-CEO by a professional results in an increase of, on average, $12 million in the valuation of the issue. (Abstract shortened by UMI.)
| Divisions: | Concordia University > John Molson School of Business |
|---|---|
| Item Type: | Thesis (Masters) |
| Authors: | Arcand, Jean-Philippe |
| Pagination: | viii, 106 leaves ; 29 cm. |
| Institution: | Concordia University |
| Degree Name: | M. Sc. Admin. |
| Program: | John Molson School of Business |
| Date: | 2004 |
| Thesis Supervisor(s): | Martens, Martin |
| ID Code: | 7869 |
| Deposited By: | Concordia University Libraries |
| Deposited On: | 18 Aug 2011 14:09 |
| Last Modified: | 18 Aug 2011 14:09 |
| Related URLs: |
Repository Staff Only: item control page
