Does a CEO's prior academic experience helpful to an IPO firm? The case of IPO discount

What affects the quality of sustainability report texts? Evidence from China

“…Following prior studies (Ma et al, 2019; Shao et al, 2020; Zhao, Tan, & Chan, 2022), we measured CEO academic background using a dummy variable ACADEMIC , 1 if the CEO has taught in a university or worked in a research institution, 0 otherwise.…”

“…Finally, the academic background of the CEO may affect the quality of the sustainability report text. According to imprinting theory, academic experience creates an academic imprint on the individual (Ma et al, 2019; Shao et al, 2020; Zhao, Tan, & Chan, 2022). Academic research requires practitioners to have strong word processing skills, which gives CEOs with academic backgrounds a greater ability to manipulate words for ambiguous expressions.…”

“…According to imprinting theory, subjects develop imprints that match the characteristics of the environment in a given environment, and these imprints have a lasting impact on the subject even when the environment changes (Marquis & Tilcsik, 2013). Previous research has found that CEOs' professional, overseas, and academic backgrounds have a significant impact on the shaping of their personalities, which in turn has an impact on their value judgment and decision‐making behavior (Buyl et al, 2011; Custodio & Metzger, 2014; Gu, 2022; Shao et al, 2020; Zhang & Wiersema, 2009; Zhao, Tan, & Chan, 2022; Zhaocheng & Jingchuan, 2021). As a result, the CEO's background characteristics may have an impact on the quality of the corporate sustainability report text.…”

Do academic CEOs influence corporate social irresponsibility? The moderating effects of negative attainment discrepancy and slack resources

“…Since its reform and opening up, China has continued promoting policies encouraging scientific researchers to quit their jobs and launch businesses (Zhao et al, 2022). As a result, an increasing number of academic decision‐makers have taken leadership roles in listed companies in China (Cho et al, 2017; Francis et al, 2015; Ma et al, 2020; Shen et al, 2020).…”

“…The upper echelons theory (Hambrick & Mason, 1984) states that decision‐makers' experience profoundly influences their thought processes and values, which in turn significantly affects how the companies they lead make decisions (Hambrick, 2007; Hambrick & Mason, 1984). Based on this theory, prior research has found that academic decision‐makers can effectively predict market strategies or outcomes such as firm innovation (Ju et al, 2023; Shen et al, 2020), IPO discounts (Zhao et al, 2022), financial reporting quality (Ma et al, 2019) and M&As (Li et al, 2022).…”