Center for Advanced Human Resource Studies (CAHRS)

CAHRS Working Paper Series
Cornell University ILR School Year 1999

Wall Street Likes its Women: An Examination of Women in the Top Management Teams of Initial Public Offerings
Theresa M. Welbourne
Cornell University

This paper is posted at DigitalCommons@ILR. http://digitalcommons.ilr.cornell.edu/cahrswp/106

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WORKING PAPER SERIES
Wall Street Likes Its Women: An Examination of Women in the Top Management Teams of Initial Public Offerings
Theresa M. Welbourne
Working Paper 9 9 – 0 7

Advancing the World of Work

Wall Street Likes Its Women

WP 99-07

WALL STREET LIKES ITS WOMEN: AN EXAMINATION OF WOMEN IN THE TOP MANAGEMENT TEAMS OF INITIAL PUBLIC OFFERINGS

Theresa M. Welbourne Cornell University Center for Advanced Human Resource Studies 393 Ives Hall Ithaca, NY 14853-3901 607/255-1139 FAX: 607/255-1836 tw19@cornell.edu

Working Paper 99-07

http://www.ilr.cornell.edu/cahrs This paper has not undergone formal review or approval of the faculty of the ILR School. It is intended to make results of Center research available to others interested in preliminary form to encourage discussion and suggestions.

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Wall Street Likes Its Women

WP 99-07

WALL STREET LIKES ITS WOMEN: AN EXAMINATION OF WOMEN IN THE TOP MANAGEMENT TEAMS OF INITIAL PUBLIC OFFERINGS

As part of an overall research project exploring the determinants of initial public offering (IPO) firm success, I examine the effect of having women on the top management teams of IPO firms on the organizations’ short and long-term financial performance. Looking at three different samples, I found that trend data indicate IPO firms are gaining in the number of women they employ in their top management teams (where top management team is defined as those listed in the firm’s prospectus). The results of