The distinct regulatory design of Indian IPOs permits an empirical evaluation of IPO underpricing models against those that model IPO initial returns as a consequence of overpricing. Characteristics of the Indian bookbuilding process allow us to study the timing and subscription patterns of...

The distinct regulatory design of Indian IPOs permits an empirical evaluation of IPO underpricing models against those that model IPO initial returns as a consequence of overpricing. Characteristics of the Indian bookbuilding process allow us to study the timing and subscription patterns of...

Certain unique characteristics of the Indian bookbuilding process allow us to study the timing and subscription pattern of different investor groups and to dissect underpricing into two distinct components: one relating to pre-listing, set by the underwriter and the other from the post-listing...

India has the unique distinction of being the only country that releases information on the IPO bookbuilding process live to investors. Against this backdrop, we investigate the role this mechanism plays in generating investor interest during the bookbuilding process and the subsequent...

Purpose – This paper aims to ascertain the behavioral issues in the usage of GPF (a DC scheme) by government employees in India. Using a unique data set of employees working in a central government office this paper attempts to ascertain whether the employees are utilizing the GPF in a way in...

Purpose – The aim of the paper is to study the long‐run under‐performance of UK initial public offerings (IPOs) by relating it to the pre‐IPO financial performance of the firm as well as the managerial decisions taken before the IPO. Design/methodology/approach – The three‐year share...

The literature on Indian IPOs has largely been confined to the pre-2000 period when bookbuilding was not present in the Indian capital markets. This paper explores the underpricing of bookbuilt IPOs in India in the post bookbuilding period. Certain unique characteristics of the disclosure...

Earnings Management by firms has been recognized by a stream of literature (Teoh et aI, 1998) as a major contributory factor to the short run over performance and long run under performance of Initial Public Offerings (IPOs).This paper outlines the methodology and the key research questions to...