RT Journal Article
SR Electronic
T1 A Tale of Two Decades (1990–2010): <em>The Survival Profile of Indian Initial Public Offering Issuers</em>
JF The Journal of Wealth Management
FD Institutional Investor Journals
SP 109
OP 121
DO 10.3905/jwm.2012.14.4.109
VO 14
IS 4
A1 Guntur Anjana Raju
A1 Harsh Prabhudesai
YR 2012
UL https://pm-research.com/content/14/4/109.abstract
AB This article examines the survival profile of Indian initial public offering (IPO) issuers for a period of two decades (1990–2010).The authors use a multinomial logit model to determine which factors influenced the post-issue transition of IPOs in India into survivors, nonsurvivors, or targets. Empirical analysis reveals that larger IPOs in India experience a lower probability of delisting, and higher underpricing increases the probability of failure or becoming a target. They also estimate the accelerated failure time model to confirm previous results. They find that the survival time for IPOs in information technology, manufacturing, and finance is negatively affected.TOPICS: Security analysis and valuation, emerging, performance measurement