Характеристики первичного публичного размещения акций и финансовые результаты: эмпирические данные по IPO в Индии

Цель исследования — определить влияние факторов, характерных для конкретной компании, на краткосрочную и долгосрочную доходность первичных публичных размещений акций (IPO) в Индии. В исследовании исполь- зуется метод наименьших квадратов для изучения взаимосвязи между краткосрочной и долгосрочной доход- ностью IPO и характеристиками компаний. В рамках исследования были собраны данные по 328 IPO за 10 лет, чтобы выявить факторы, влияющие на долгосрочную и краткосрочную доходность IPO. Результаты исследова- ния подтверждают, что цена размещения, возраст и размер компании оказывают значительное положительное влияние на краткосрочную доходность IPO. Кроме того, время проведения IPO негативно сказывается на крат- косрочной доходности. Мы также обнаружили, что краткосрочная доходность с поправкой на рыночные факто- ры положительно влияет на долгосрочную доходность. Результаты этого исследования помогают лучше понять факторы, характерные для конкретной компании, которые могут быть использованы для прогнозирования IPO в Индии.

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