Academic Journal
Pricing and performance of IPOs: Evidence from Indian stock market
| العنوان: | Pricing and performance of IPOs: Evidence from Indian stock market |
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| المؤلفون: | Iqbal Thonse Hawaldar, K.R. Naveen Kumar, T. Mallikarjunappa |
| المصدر: | Cogent Economics & Finance, Vol 6, Iss 1 (2018) |
| بيانات النشر: | Taylor & Francis Group, 2018. |
| سنة النشر: | 2018 |
| المجموعة: | LCC:Finance LCC:Economic theory. Demography |
| مصطلحات موضوعية: | ipos, underpricing, underperformance, book-building, fixed-price ipo, Finance, HG1-9999, Economic theory. Demography, HB1-3840 |
| الوصف: | This study examines listing day performance of IPOs, book-built and fixed-price IPOs, post-listing aftermarket performance of IPOs, book-built and fixed-price IPOs in the Indian stock market. We examine pricing as well as long run performance of 464 (365 book-built IPOs and 99 fixed-price IPOs) Indian IPOs that went public between 2001 and 2011. The study covers 15 years from the financial year 2001 to 2015. Analysis of the results reveals that compared to fixed-price IPOs, book-built IPOs are underpriced by lesser magnitude. Moreover, book-built IPOs are associated with negative cumulative average abnormal returns (CAARs) up to five years and beyond, the negative CAARs associated with fixed-price IPOs turn positive after one and one-half year and continue to be positive thereafter. |
| نوع الوثيقة: | article |
| وصف الملف: | electronic resource |
| اللغة: | English |
| تدمد: | 2332-2039 23322039 |
| Relation: | https://doaj.org/toc/2332-2039 |
| DOI: | 10.1080/23322039.2017.1420350 |
| URL الوصول: | https://doaj.org/article/7f287adae7e642509a477cdafb5a260f |
| رقم الانضمام: | edsdoj.7f287adae7e642509a477cdafb5a260f |
| قاعدة البيانات: | Directory of Open Access Journals |
Full Text Finder | تدمد: | 23322039 |
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| DOI: | 10.1080/23322039.2017.1420350 |