IPO underpricing: a comparative analysis of risk factor disclosures in the financial and non-financial sectors
Pritpal Singh Bhullar,
Krishan Lal Grover,
Ranjit Tiwari
Abstract:Purpose
This study aims to identify mutually exclusive risk categories and determine whether these categories effectively capture the potential impact of risk disclosures on the initial returns of initial public offerings (IPOs) in the financial and non-financial sectors.
Design/methodology/approach
Data were collected from 131 Indian IPO prospectuses (104 non-financial and 27 financial) issued between 2015 and 2021. Content analysis was performed to identify mutually exclusive risk categories, and the effect… Show more
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