The effects of entrepreneurial long-term commitment on post-IPO performance:Chinese evidence

摘要

Long-term commitment is a motivational factor that drives people towards entrepreneurship.Scholars and practitioners have lacked a robust and validated instrument for measuring long-term commitment and its dimensions in the specific context of entrepreneurship.Based on a unique dataset of emigration statuses of Chinese entrepreneurs,we develop an instrument of entrepreneurial long-term commitment and test its impacts on corporate outcomes and entrepreneurs'',individual behaviors.We observe that entrepreneurial long-term commitment significantly affects corporate policies,long-term shareholder wealth and entrepreneurs''individual behaviors.Our research also helps to evaluate the values of these entrepreneurs in China.