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| Author: | Higgins, M. C. Gulati, R. |
| Title: | Getting Off to a Good Start: The Effects of Upper Echelon Affiliations on Underwriter Prestige |
| Journal: | Organization Science
2003 : MAY-JUN, VOL. 14:3, p. 244-263 |
| Index terms: | INTERORGANIZATIONAL RELATIONS INITIAL PUBLIC OFFERINGS UNDERWRITING |
| Language: | eng |
| Abstract: | This paper examines the antecedents to receiving endorsement by a prestigious underwriter and links this to the experience base of a firm's upper echelon. The authors theorize that the amount and type of upper echelon experience serve as important symbols of a young firm's legitimacy to critical outsiders. The authors introduce a typology of upper echelon experience that distinguishes between upper echelon upstream, horizontal, and downstream employment-based affiliations and suggest that these different types of upper echelon affiliations allay different types of endorser concerns regarding firm legitimacy, affecting the endorsement process. |
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