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dc.contributor.authorMcLeod, Michael S.
dc.contributor.authorMoore, Curt B.
dc.contributor.authorPayne, G. Tyge
dc.contributor.authorSexton, Jennifer C.
dc.contributor.authorEvert, Robert E.
dc.identifier.citationMichael S. McLeod, Curt B. Moore, G. Tyge Payne, Jennifer C. Sexton, Robert E. Evert. 2018. Organizational virtue and stakeholder interdependence: an empirical examination of financial intermediaries and IPO firms. Journal of Business Ethics, vol. 149:no.4:pp 785-798en_US
dc.descriptionClick on the DOI link to access the article (may not be free).en_US
dc.description.abstractOrganizational virtue orientation (OVO), an organizational-level construct, refers to the integrated set of beliefs and values that support ethical character traits and virtuous behaviors. To advance the study of organizational virtue, we examine OVO in firms making their initial public offerings (IPOs), with respect to key external stakeholders that serve as financial intermediaries (i.e., venture capital firms and underwriting banks). Drawing on stakeholder and resource dependence theories, we argue that mutual interdependencies occur between financial intermediaries and IPO firms such that venture capital firms' ownership levels and underwriter reputation are positively associated with the selection of more virtuous IPO firms. We also argue for the moderating relationship of IPO firm age on these main relationships; since IPO firms have more history and information availability, less importance will be placed on OVO in the selection process. In support of our hypotheses, the results of this study suggest the organizational virtue of IPO firms influences the selection decisions of financial intermediaries by reflecting positively on these key stakeholders to improve legitimacy and reputation.en_US
dc.publisherSpringer Natureen_US
dc.relation.ispartofseriesJournal of Business Ethics;v.149:no.4
dc.subjectResource dependenceen_US
dc.subjectContent analysisen_US
dc.subjectInitial public offerings (IPOs)en_US
dc.titleOrganizational virtue and stakeholder interdependence: an empirical examination of financial intermediaries and IPO firmsen_US
dc.rights.holder© 2016, Springer Science Business Media Dordrechten_US

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