出版社：The International Institute for Science, Technology and Education (IISTE)
摘要：This paper attempts to design for and tests empirical models, which integrate theoretical and firm’s economic capabilities. Which are interacting to explain financial efficiency, i.e. several financial & liquidity ratios at the level of underpricing after the Indian stock market crunch? The study is founded on IPO that listed at Bombay stock exchange given that April-2008 to Dec-2011. VAR (vector autoregressive analysis) is used to distinguish the relationship between all independent variables with the dependent variable, i.e. level of underpricing. The results of VAR display that variable of DEBTQ, APATM, ROCE and RONW have a consequential association at the level of Market adjusted return ratio (MARRO), AND VAR indicates 46% R 2 and 30% adjusted R 2 . Nevertheless, ROCE and RONW have a significant difference in the level of traditional underpricing, and VAR indicates 49% R 2 and 32% adjusted R2. However, in the mutually of a case i.e. LOGMAARO & LOGUNDER verified the assumptions of Akaike information criterion and Schwarz's criterion. We executed unit root testing to verify stationary of time series and autocorrelation function. Durbin Watson’s value subsisted 1.58 . Which indicate, there is no heteroskedasticity problem exist for the model? Key words : IPOs, Post market crisis, ownership structure, share holding pattern, BSE, Underpricing, firm specific factors, market related variables.
