CEO international experience and foreign IPOs

Tinghua Duan, Wenxuan Hou, William Rees

Research output: Contribution to journalArticlepeer-review

Abstract / Description of output

This paper examines listing location as a managerial decision. Using a sample of IPOs of Chinese entrepreneurial firms in mainland China, the United States and Hong Kong, we show that Chinese entrepreneurial firms managed by CEOs international experience, are more likely to undertake foreign IPOs, especially those with experience of countries with more advanced legal institutions and those operating in high-tech industries. The credibility crisis for Chinese firms in 2010 switched the focus of foreign IPOs from the US to Hong Kong. These results are consistent across returnee CFOs and other senior executives with international experience.
Original languageEnglish
JournalEconomic Modelling
Early online date6 Dec 2019
Publication statusE-pub ahead of print - 6 Dec 2019

Keywords / Materials (for Non-textual outputs)

  • China
  • CEO
  • CFO
  • returnee
  • cross-border
  • IPOs
  • entrepreneurial firms
  • IPO initial returns
  • high tech industries


Dive into the research topics of 'CEO international experience and foreign IPOs'. Together they form a unique fingerprint.

Cite this