Institutional Investor Portfolio Stability and Post-IPO Firm Survival: A Contingency Approach

Christohper Ray Reutzel


This study examines the influence of institutional investor portfolio stability on the survival of 379 IPO firms
that went public in 1997. I find a negative relationship between the amount of stable institutional investment in
and newly public firms and post-IPO firm failure. Consistent with multiple agency theory I also find that outside
director board control weakens the influence of stable institutional investment on post-IPO firm failure. These
results provide support for multiple agency theory and highlight the importance of differences among and
between principals and agents in the post-IPO setting.

Full Text:



International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

Copyright © Canadian Center of Science and Education

To make sure that you can receive messages from us, please add the '' domain to your e-mail 'safe list'. If you do not receive e-mail in your 'inbox', check your 'bulk mail' or 'junk mail' folders.