Getting Off to a Good Start: The Effects of Upper Echelon Affiliations on Underwriter Prestige

References

• Abbott A. Status and status strain in the professions. Amer. J. Sociology (1981) 86(4):819–835Crossref, Google Scholar
• Ahuja G. The duality of collaboration: Inducements and opportunities in the formation of interfirm linkages. Strategic Management J. (2000) 21:317–343Crossref, Google Scholar
• Aldrich H. E., Pfeffer J. Environments of organizations. Annual Rev. Sociology (1976) 2:79–105Crossref, Google Scholar
• Allison P. D. Measures of inequality. Amer. Sociological Rev. (1978) 43:865–880Crossref, Google Scholar
• Bae S. C., Klein D. P., Bowyer J. W. Determinants of underwriter participation in initial public offerings of common stock: An empirical study. J. Bus. Finance and Accounting (1999) 26:595–618Crossref, Google Scholar
• Bantel K., Jackson S. E. Top management and innovations in banking: Does the composition of the top team make a difference? Strategic Management J. (1989) 10:107–124Crossref, Google Scholar
• Barley S. R., Freeman J., Hybels R. C., Nohria N., Eccles R. G. Strategic alliances in commercial biotechnology. Networks and Organizations: Structure, Form and Action (1992) (Harvard Business School Press, Boston, MA) 311–347Google Scholar
• Baum J. A. C., Oliver C. Institutional embeddedness and the dynamics of organizational populations. Amer. Sociological Rev. (1992) 57:540–559Crossref, Google Scholar
• Baum J. A. C., Powell W. W. Cultivating an institutional ecology of organizations: Comment on Hannan, Carroll, Dundon, and Torres. Amer. Sociological Rev. (1995) 60:529–538Crossref, Google Scholar
• Baum J. A. C., Calabrese T., Silverman B. S. Don't go it alone: Alliance network composition and startups' performance in Canadian biotechnology. Strategic Management J. (2000) 21:267–294Crossref, Google Scholar
• Beatty R. P., Ritter J. R. Investment banking, reputation, and the underpricing of initial public offerings. J. Financial Econom. (1986) 15:213–232Crossref, Google Scholar
• Berger P. L., Luckman T.The Social Construction of Reality (1966) (Doubleday, Garden City, NY) Google Scholar
• BioWorld. Stock report for public biotechnology companies. (1996) (Atlanta, GA)Google Scholar
• Blau P. M.Exchange and Power in Social Life (1964) (Transaction, New Brunswick, NJ) Google Scholar
• Blau P. M.Inequality and Heterogeneity (1977) (Free Press, New York) Google Scholar
• Bochner S. E., Priest G. M.Guide to the Initial Public Offering (1993) (Merrill Corporation, New York) Google Scholar
• Burrill G. S., Lee K.Biotech 91: A Changing Environment (1990) (Ernst & Young, San Francisco, CA) Google Scholar
• Burrill G. S., Lee K.Biotech 94 (1993) (Ernst & Young, San Francisco, CA) Google Scholar
• Burt R. S.Structural Holes: The Social Structure of Competition (1992) (Harvard University Press, Cambridge, MA) Crossref, Google Scholar
• Burton M. D., Sorenson J. B., Beckman C. Coming from good stock: Career histories and new venture formation. (1998) . Working paper, Harvard Business School, Boston, MAGoogle Scholar
• Campbell D. Variation and selective retention in socio-cultural evolution. General Systems (1969) 16:69–85Google Scholar
• Carter R. B., Dark F. H. An empirical examination of investment banking reputation measures. The Financial Rev. (1992) 27(3):355–374Crossref, Google Scholar
• Carter R. B., Manaster S. Initial public offerings and underwriter reputation. J. Finance (1990) 45:1045–1067Crossref, Google Scholar
• Carter R. B., Dark F. H., Singh A. K. Underwriter reputation, initial returns and the long-run performance of IPO stocks. J. Finance (1998) 53:285–311Crossref, Google Scholar
• Coleman J. S.Foundations of Social Theory (1990) (Harvard University, Cambridge, MA) Google Scholar
• Cyert R. M., March J. G.A Behavioral Theory of the Firm (1963) (Prentice-Hall, New York) Google Scholar
• DeCarolis D. M., Deeds D. L. The impact of stocks and flows of organizational knowledge on firm performance: An empirical investigation of the biotechnology industry. Strategic Management J. (1999) 20:953–968Crossref, Google Scholar
• Deeds D. L., DeCarolis D., Coombs J. E. The impact of firm-specific capabilities on the amount of capital raised in an initial public offering: Evidence from the biotechnology industry. J. Bus. Venturing (1997) 12:31–46Crossref, Google Scholar
• Dibner M. D.Biotechnology Guide, U.S.A. (1988) (Stockton Press, New York) Google Scholar
• Dibner M. D.Biotechnology Guide, U.S.A. (1991) (Stockton Press, New York) Google Scholar
• Dibner M. D.Biotechnology Guide, U.S.A. (1995) (Stockton Press, New York) Google Scholar
• Dibner M. D.Biotechnology Guide, U.S.A. (1999) (Stockton Press, New York) Google Scholar
• Eisenhardt K. M., Schoonhoven C. B. Resource-based view of strategic alliance formation: Strategic and social effects in entrepreneurial firms. Organ. Sci. (1996) 7:136–150Link, Google Scholar
• Eliashberg J., Shugan S. M. Film critics: Influencers or predictors? J. Marketing (1997) 61:68–78Crossref, Google Scholar
• Feldman M. S., March J. G. Information in organizations as signal and symbol. Admin. Sci. Quart. (1981) 26:171–186Crossref, Google Scholar
• Finkelstein S. Power in top management teams: Dimensions measurement and validation. Acad. Management J. (1992) 35:505–538Crossref, Google Scholar
• Geletkanycz M. A., Hambrick D. C. The external ties of top executives: Implications for strategic choice and performance. Admin. Sci. Quart. (1997) 42(14):654–681Crossref, Google Scholar
• Gompers P. A. Grandstanding in the venture capital industry. J. Financial Econom. (1996) 42:133–156Crossref, Google Scholar
• Gompers P. A., Lerner J., Blair M. M., Hellman T. What drives venture capital fundraising? Brookings Papers on Econom Activity—Microeconomics (1998) 149–192Google Scholar
• Gorman M., Sahlman W. A. What do venture capitalists do? J. Bus. Venturing (1989) 4(4):231–247Crossref, Google Scholar
• Gourman J.The Gourman Report: A Rating of Graduate and Professional Programs in American and International Universities (1980) (National Education Standards, Los Angeles, CA) Google Scholar
• Gourman J.The Gourman Report: A Rating of Graduate and Professional Programs in American and International Universities (1983) (National Education Standards, Los Angeles, CA) Google Scholar
• Gourman J.The Gourman Report: A Rating of Graduate and Professional Programs in American and International Universities (1985) (National Education Standards, Los Angeles, CA) Google Scholar
• Gourman J.The Gourman Report: A Rating of Graduate and Professional Programs in American and International Universities (1987) (National Education Standards, Los Angeles, CA) Google Scholar
• Gourman J.The Gourman Report: A Rating of Graduate and Professional Programs in American and International Universities (1989) (National Education Standards, Los Angeles, CA) Google Scholar
• Gourman J.The Gourman Report: A Rating of Graduate and Professional Programs in American and International Universities (1993) (National Education Standards, Los Angeles, CA) Google Scholar
• Gourman J.The Gourman Report: A Rating of Graduate and Professional Programs in American and International Universities (1996) (National Education Standards, Los Angeles, CA) Google Scholar
• Gulati R. Does familiarity breed trust? The implications of repeated ties for contractual choice in alliances. Acad. Management J.. (1995) 38(1):85–112Crossref, Google Scholar
• Gulati R., Gargiulo M. Where do interorganizational networks come from? Amer. J. Sociology (1999) 104:1439–1493Crossref, Google Scholar
• Hambrick D. C., Cho T. S., Chen M. J. The influence of top management team heterogeneity on firms' competitive moves. Admin. Sci. Quart. (1996) 41:659–684Crossref, Google Scholar
• Hannan M. T., Carroll C. R.Dynamics of Organizational Populations: Density, Competition and Legitimation (1992) (Oxford University Press, New York) Google Scholar
• Hayes S. L. Investment banking: Power structure in flux. Harvard Bus. Rev. (1971) 49(2):136–152Google Scholar
• Heckman J. J. Sample selection bias as a specification error. Econometrica (1979) 45:153–161Crossref, Google Scholar
• Kogut B., Shan W., Walker G., Nohria N., Eccles R. G. The make-or-cooperate decision in the context of an industry network. Networks and Organizations: Structure, Form and Action (1992) (Harvard Business School Press, Boston, MA) 348–365Google Scholar
• Lee K., Burrill G. S.Biotech 96 (1995) (Ernst and Young, Palo Alto, CA) Google Scholar
• Lerner J. Venture capitalists and the decision to go public. J. Financial Econom. (1994) 35:293–316Crossref, Google Scholar
• March J. G., Olsen J. P.Ambiguity and Choice in Organ (1976) (Universitetsforlaget, Bergen, Norway) Google Scholar
• March J. G., Simon H. A.Organizations (1958) (Wiley, New York) Google Scholar
• Megginson W. L., Weiss K. A. Venture capitalist certification in initial public offering. J. Finance (1991) 56:879–903Crossref, Google Scholar
• Merton R. K.The Sociology of Science (1973) (University of Chicago Press, Chicago, IL) Google Scholar
• Meyer J. W., Rowan B. Institutionalized organizations: Formal structure as myth and ceremony. Amer. J. Sociology (1977) 83(2):340–363Crossref, Google Scholar
• Mizruchi M. S.The American Corporate Network 1904–1974 (1982) (Sage, Beverly Hills, CA) Google Scholar
• Mizruchi M. S.The Structure of Corporate Political Action: Interfirm Relations and Their Consequences (1992) (Harvard University Press, Cambridge, MA) Google Scholar
• Ocasio W. Towards an atttention-based view of the firm. Strategic Management J. (1997) 18:187–206Crossref, Google Scholar
• Palmer D. A., Zhou X., Barber B. M., Soysal Y. The friendly and predatory acquisition of large U.S. corporations in the 1960s: The other contested terrain. Amer. Sociological Rev. (1995) 60(4):469–499Crossref, Google Scholar
• Pfeffer J. Beyond management and the worker: The institutional function of management. Acad. Management Rev. (1976) 1:36–46Crossref, Google Scholar
• Pisano G. P. The governance of innovation: Vertical integration and collaborative arrangements in the biotechnology industry. Res. Policy (1991) 20:237–249Crossref, Google Scholar
• Pisano G. P., Mang P. Y. Collaborative product development and the market for know-how: Strategies and structures in the biotechnology industry. Res. Technological Innovation, Management and Policy (1993) 5:109–136Google Scholar
• Podolny J. M. A status-based model of market competition. Amer. J. Sociology (1993) 98:829–872Crossref, Google Scholar
• Podolny J. M. Market uncertainty and the social character of economic exchange. Admin. Sci. Quart. (1994) 39:458–483Crossref, Google Scholar
• Podolny J. M. Networks as the pipes and prisms of the market: A look at investment decisions in the venture capital industry. Amer. J. Sociology (2001) 107(1):33–60Crossref, Google Scholar
• Podolny J. M., Stuart T. E., Hannan M. T. Networks, knowledge and niches. Amer. J. Sociology (1996) 102:659–689Crossref, Google Scholar
• POV, Inc.Biotechnology's Top 50 in Pharmaceuticals and Diagnostics: A Competitive Analysis (1997) (POV, Inc., Montclair, NJ) Google Scholar
• Powell W. W., Staw B., Cummings L. L. Neither market nor hierarchy: Network forms organization. Research in Organizational Behavior (1990) (JAI Press, Greenwich, CT) 295–336Google Scholar
• Powell W. W., Brantley P., Nohria N., Eccles R. G. Competitive cooperation in biotechnology: Learning through networks? Networks and Organizations (1992) (Harvard Business School Press, Boston, MA) 366–394Google Scholar
• Powell W. W., Koput K. W., Smith-Doerr L. Interorganizational collaboration and the locus of innovation: Networks of learning biotechnology. Admin. Sci. Quart. (1996) 41:116–145Crossref, Google Scholar
• Rao H. The social construction of reputation: Certification contests legitimation, and the survival of organizations in the American automobile industry: 1895–1912. Strategic Management J. (1994) 15:29–44Crossref, Google Scholar
• Rao H. Caveat emptor: The construction of non-profit watchdog organizations. Amer. J. Sociology (1998) 103:912–961Crossref, Google Scholar
• Rao H., Drazin R. An institutional ecology of recruitment in the mutual fund industry: 1986–1994. (2000) . Working paper, Emory University, Atlanta, GAGoogle Scholar
• Rau P. R. Investment bank market share contingent fee payments, and the performance of acquiring firms. J. Financial Econom. (2000) 56:293–324Crossref, Google Scholar
• Sahlman W. A. The structure and governance of venture-capital organizations. J. Financial Econom. (1990) 27(2):473–521Crossref, Google Scholar
• Saxenian A.Regional Advantage: Culture and Competition in Silicon Valley and Route 128 (1994) (Harvard University Press, Cambridge, MA) Google Scholar
• Scott W. R.Institutions and Organizations (1995) (Sage, Thousand Oaks, CA) Google Scholar
• Simon H. A. A behavioral model of rational choice. Quart. J. Econom. (1955) 69:99–118Crossref, Google Scholar
• Simon H. A.Administrative Behavior: A Study of Decision-Making Processes in Administrative Organizations (1997) (Free Press, New York) . [1947]Google Scholar
• Stuart T. E. Interorganizational alliances and the performance of firms: A study of growth and innovation rates in a high-technology industry. Strategic Management J. (2000) 21:791–811Crossref, Google Scholar
• Stuart T. E., Hoang H., Hybels R. C. Interorganizational endorsements and the performance of entrepreneurial ventures. Admin. Sci. Quart. (1999) 44:315–349Crossref, Google Scholar
• Thompson J. D.Organizations in Action (1967) (McGraw-Hill, New York) Google Scholar
• Thornton P. H. Personal versus market logics of control: A historically contingent theory of the risk of acquisition. Organ. Sci. (2001) 12(3):294–311Link, Google Scholar
• Thornton P. H., Ocasio W. Institutional logics and the historical contingency of power in organizations: Executive succession in the higher education publishing industry, 1958–1990. Amer. J. Sociology (1999) 105(3):801–843Crossref, Google Scholar
• Tinic S. M. Anatomy of initial public offerings of common stock. J. Finance (1988) 43(4):789–822Crossref, Google Scholar
• Van de Ven W. P. M. M., van Praag B. M. S. The demand for deductibles in private health insurance. J. Econometrics (1981) 17:229–252Crossref, Google Scholar
• Weber M.Economy and Society (1968) (Bedminster, New York) Google Scholar
• White H. C. Where do markets come from? Amer. J. Sociology (1981) 87:517–547Crossref, Google Scholar
• Winship C., Mare R. D. Models for sample selection bias. Annual Rev. Sociology (1992) 18:327–350Crossref, Google Scholar
• Wolfe G. A., Cooperman E. S., Ferris S. P. An analysis of the underwriter selection process for initial public offerings. J. Financial Res. (1994) 17(1):77–90Crossref, Google Scholar
• Zucker L. G., Darby M. R., Brewer M. B.Intellectual Capital and the Birth of US Biotechnology Enterprises (1994) (National Bureau of Economic Research, Cambridge, MA) Crossref, Google Scholar
• Zuckerman E. W. The categorical imperative: Securities analysts and the illegitimacy discount. Amer. J. Sociology (1999) 104(5):1398–1438Crossref, Google Scholar