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Ownership Structure and Operating Performance of IPOs in India

Author

Listed:
  • Shikha Bhatia
  • Balwinder Singh

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

  • Shikha Bhatia & Balwinder Singh, 2013. "Ownership Structure and Operating Performance of IPOs in India," The IUP Journal of Applied Economics, IUP Publications, vol. 0(3), pages 7-37, July.
    • Handle: RePEc:icf:icfjae:v:12:y:2013:i:3:p:7-37
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    Cited by:

    1. Andrzej Piosik, 2021. "Revenue Identification in Attaining Consensus Estimates on Income Predictions: The Function of Ownership Concentration and Managerial Ownership Confirmation from Poland," Sustainability, MDPI, vol. 13(23), pages 1-16, December.
    2. Andrzej Piosik & Ewa Genge, 2019. "The Influence of a Company’s Ownership Structure on Upward Real Earnings Management," Sustainability, MDPI, vol. 12(1), pages 1-24, December.

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