Ownership Structure and Operating Performance of IPOs in India

The IUP Journal of Applied Economics, Vol. XII, No. 3, July 2013, pp. 7-37

37 Pages Posted: 26 Nov 2013 Last revised: 3 Mar 2017

See all articles by Shikha Bhatia

Shikha Bhatia

Jaipuria Institute of Management

Balwinder Singh

Guru Nanak Dev University - Department of Commerce and Business Management

Date Written: November 25, 2013

Abstract

The anomalous behavior of Initial Public Offerings (IPOs) has been extensively researched and debated. Numerous studies have documented stock price and operating underperformance of IPOs and suggested several reasons like earnings management, timing of issues, agency theory, etc., as causing such decline in post-issue performance. This study attempts to examine the operating performance of IPOs in India for a period of five years subsequent to the issue. It specifically seeks to analyze the post-issue operating performance relative to pre-issue levels and to determine the relationship between ownership retained by the promoters and operating performance of issuing firms.

Suggested Citation

Bhatia, Shikha and Singh, Balwinder, Ownership Structure and Operating Performance of IPOs in India (November 25, 2013). The IUP Journal of Applied Economics, Vol. XII, No. 3, July 2013, pp. 7-37. Available at SSRN: https://ssrn.com/abstract=2359346

Shikha Bhatia (Contact Author)

Jaipuria Institute of Management ( email )

A-32A ,Sctor 62
Noida
Gautam Budh Nagar, UP 201309
India

Balwinder Singh

Guru Nanak Dev University - Department of Commerce and Business Management ( email )

Department of Commerce and Business Management
Guru Nanak Dev University
Amritsar, Punjab 143005
India
09417272232 (Phone)
0183-2255564 (Fax)

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