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不同于以往IPO承销商选择的研究视角,文章基于新制度理论和组织学习理论,研究了组织间模仿对IPO承销商选择行为的影响。以2006-2012年我国中小板IPO事件为研究对象,发现模仿是解释IPO承销商选择的重要因素,并且在IPO企业的承销商选择中同时存在着不同类型的模仿行为。在面临合法性压力时,IPO企业的模仿属于基于频率的模仿,而非模仿领先者;同时,企业的模仿行为也受理性因素的驱动,企业会有选择性的模仿那些已经取得较好成果的行为,并且成果的显著性程度也会对企业的模仿行为产生影响。
Abstract：Different from the previous research on IPO firms' selection of underwriters,this paper investigates the impact of inter-organizational imitation on IPO firms' selection of underwriters based on new institutional theory and organizational learning theory. Using a sample of IPOs from 2006-2012 in china SME stock market,we find that imitation is an important factor to explain the IPO firms' selection of underwriters and in the meantime they have different types of imitation behaviors. Under legitimate pressure,firms tend to imitate choices that have been frequently taken by other firms rather than those of the leading firms. Meanwhile,imitation is also motivated by rational factors and firms will selectively imitate practices that are perceived to provide favorable performance and the degree of the outcome salience will also affect firms' imitation behaviors.
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基本信息:
DOI：10.14134/j.cnki.cn33-1336/f.2015.11.005
中图分类号:F274;F832.51
引用信息:
[1]王疆,陈俊甫.组织间模仿能够解释IPO企业的承销商选择行为吗?——基于新制度理论和组织学习理论的分析[J].商业经济与管理,2015,No.289(11):44-53.DOI:10.14134/j.cnki.cn33-1336/f.2015.11.005.
基金信息:
日本学术振兴会科学研究费项目(22730299); 上海高校青年教师培养资助计划(slg12011)
2015-11-15
2015-11-15