Examining the Performance of IPOs

Shikha Bhatia and Balwinder Singh
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Shikha Bhatia: Shikha Bhatia is Assistant Professor at Jaipuria Institute of Management, Noida, U.P., India. Email: shikha.asr@gmail.com
Balwinder Singh: Balwinder Singh is Reader, Department of Commerce and Business Management, Guru Nanak Dev University, Amritsar, Punjab, India. Email: bksaini@gmail.com

Management and Labour Studies, 2012, vol. 37, issue 3, 219-251

Abstract: This paper examines the performance of 648 initial public offerings (IPOs) listed on the Bombay Stock Exchange (BSE) from June 1992 to March 2002 over a five-year period. Voluminous research across the world suggests that IPOs unanimously witness very high returns in the short run; as opposed to it, the long-run performance of IPOs does not observe any ubiquitous pattern and this paper is an attempt to draw conclusions about the performance of IPOs in India. In order to get robust conclusions on IPO performance, the patterns of IPO performance have been analyzed for 60 months subsequent to listing. Furthermore, the study attempts to find out the factors that determine the performance of Indian IPOs.

Keywords: IPO Performance; Underperformance of IPOs; Operating Performance of IPOs; Long-run Performance of IPOs (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:sae:manlab:v:37:y:2012:i:3:p:219-251

DOI: 10.1177/0258042X13484836

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