The Role of the Board’s Financial Expertise in the IPO Process

Since the 1970s, the underpricing of IPOs has been a well-observed phenomenon and many issuers see their stock price rising sharply on the first day of trading, which means that the IPO firm could have realized higher proceeds from the offering (“money left on the table”). As a result, venture capitalists and Silicon Valley companies recently expressed their […]

Who saves our world? The impact of executives’ gender on corporate social and ecological investments

Introduction In August 2019, 181 members of the Business Roundtable, a nonprofit association whose members are chief executive officers of major U.S. companies, signed a “Statement on the Purpose of a Corporation,” which represents a rebuke from a strong shareholder orientation towards a more modern stakeholder capitalism. Two of the five pillars described in the […]