An Empirical Investigation of Determinants of Going Public Decision of Indian Companies

Indian Institute of Management, Lucknow, Working Paper No. 2006-07/06

Posted: 11 Dec 2006

See all articles by Manas Mayur

Manas Mayur

Goa Institute of Management

Manoj Kumar

Indian Institute of Management Jammu; Indian Institute of Management, Rohtak; SVKM's Narsee Monjee Institute of Management Studies (NMIMS) - School of Business Management

Date Written: 2006

Abstract

This paper examines the determinants of the going public decision of the Indian companies. A probit regression model is used to analyze the influence of fundamental financial data of Indian companies on their going public decision. The size, profitability, age and leverage emerged as the significant determinants of going public decision of Indian companies. The statistically insignificant relationship between the financing needs and likelihood of an IPO found in our study is similar to the Pagano et al, 1998, and contrary to the findings of several other studies done on same issue.

Keywords: Initial Public Offerings, Going public decision, emerging markets, India

JEL Classification: G3

Suggested Citation

Mayur, Manas and Kumar, Manoj, An Empirical Investigation of Determinants of Going Public Decision of Indian Companies (2006). Indian Institute of Management, Lucknow, Working Paper No. 2006-07/06, Available at SSRN: https://ssrn.com/abstract=950744

Manas Mayur (Contact Author)

Goa Institute of Management ( email )

Poriem, Sattari
Sanquelim
Goa, Goa 403505
India

HOME PAGE: http://www.gim.ac.in

Manoj Kumar

Indian Institute of Management Jammu ( email )

Old University Campus, Canal Road, Jammu
Jammu, India, Jammu and Kashmir 180016
India
7757011202 (Phone)

HOME PAGE: http://www.iimj.ac.in/faculty-data?n=MTk=

Indian Institute of Management, Rohtak ( email )

Rohtak
Rohtak, Haryana, India, Haryana, India 124001
India
7757011202 (Phone)

HOME PAGE: http://www.iimrohtak.ac.in/manoj-kumar.html

SVKM's Narsee Monjee Institute of Management Studies (NMIMS) - School of Business Management ( email )

V. L. Mehta Road,
Vile Parle (W),
Mumbai, India, 400 056
India

Do you have negative results from your research you’d like to share?

Paper statistics

Abstract Views
1,136
PlumX Metrics