An Empirical Analysis of Ipos And Its Determinants: An Indian Perspective

Authors

  • Ashima Karmakar
  • Bhaskar Goswami
  • Manowar Hussain
  • Sourav Chakraborty

DOI:

https://doi.org/10.33516/rb.v49i1.23-42p

Keywords:

ARDL Bound Cointegration Test, Granger Causality, Initial Public Offerings (IPOs), Issue Size, Number of IPOs.

Abstract

The strategy of going public is pertinent to the growth and development of a country’s overall economy. Macroeconomic variables play a decisive role in the going public decisions of entrant firms. The present paper is an attempt to explore the performance of the IPOs in the Indian context for the period 2012 to 2022 in an aggregative sense. Here the issue size of IPOs is considered as a proxy of its performance while the number of IPOs launched in a particular year is the measure of the extent of equity financing that the unlisted firms rely on. The paper uses the ARDL model to examine the macroeconomic factors on which the IPO’s performance depends. It turns out that GDP per capita and returns from stock markets have a positive influence while treasury bills rate has some negative impact on the performance of IPOs. On the other hand, GDP Per capita has a significant positive relationship with the number of IPOs.

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Published

2024-03-23

How to Cite

Karmakar, A., Goswami, B., Hussain, M., & Chakraborty, S. (2024). An Empirical Analysis of Ipos And Its Determinants: An Indian Perspective. Research Bulletin, 49(1), 23–42. https://doi.org/10.33516/rb.v49i1.23-42p

Issue

Volume 49, Issue 1, April 2023

Section

Articles
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Scopus
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Europe PMC

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