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Durga Prasad Samontaray

Associate Professor

Associate Professor, Department of Finance

كلية إدارة الأعمال
College of Business Administration, Building 67, Second Floor, Office No. S36
المنشورات
مقال فى مجلة
2023

ARE IPOS UNDERPRICED? EMPIRICAL EVIDENCE FROM SAUDI ARABIA

Underpricing of initial public offerings (IPOs) is a common phenomenon that widely studied over many periods and a broad range of countries. This paper examines the extent of underpricing of IPOs in Saudi Arabia by using the data of 44 IPOs listed on the Saudi Stock Exchange from January 2010 till October 2021. We found that IPOs on average were underpriced by 49.4%. The stepwise multiple regression results showed that the number of individual subscribers, the level of over-subscription by individuals, and the firm size have a significant relationship with IPO returns. The outcomes are hence consistent with the prediction of ex-ante uncertainty and the winners’ curse hypothesis.
Keywords: Initial Public Offerings (IPOs), Underpricing, Offer Risk, Investor Sentiment, Listing Fee, Market Volatility

نوع عمل المنشور
Research Article
اسم الناشر
Corporate Ownership and Control (VIRTUS INTERPRESS)
رقم المجلد
20
رقم الانشاء
2
الصفحات
156-165
مزيد من المنشورات
publications

As managers face a flood of data, it is very important that they effectively analyze and interpret the available data to make decisions. Plotting data will help them in their analysis and…

بواسطة Kaushik Bhattacharjee, Durga Prasad Samontaray
2024
تم النشر فى:
IVEY
publications

Abstract: The aim of the study to find if there is an impact caused by corporate governance
(CG) on the firm performance (FP) using ROA as a measure. The study covered
the listed 9…

بواسطة Atul Bansal, Durga Prasad Samontaray, Rahul Kumar
2023
publications

Underpricing of initial public offerings (IPOs) is a common phenomenon that widely studied over many periods and a broad range of countries. This paper examines the extent of underpricing of IPOs…

بواسطة Durga Prasad Samontaray, Abdullah Saud Al Zuwidi
2023
تم النشر فى:
Corporate Ownership and Control (VIRTUS INTERPRESS)