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AGENCY CONFLICTS AND OPERATING PERFORMANCE IN AN EMERGING MARKET
Download This ArticleManas Mayur
Abstract
The study examines the relationship between post-IPO performance of 306 Indian firms and the changes in insiders’ ownership around their IPOs? The results illustrated a curvilinear relationship between ownership and performance. Whereas the negative relationship was found for low and very high ownership level and positive relationship was found for intermediate level. This is an attention-grabbing outcome as it contrasts with earlier studies on curvilinear relationship between ownership and performance, where the negative relationship was found for intermediate level and positive relationship was found for both very low and very high ownership level.
Keywords: Initial Public Offerings, Emerging Market, India, Post IPO Performance, Ownership, Panel Data Analysis
How to cite this paper: Mayur, M. (2016). Agency conflicts and operating performance in an emerging market. Corporate Ownership & Control, 14(1), 73-83. https://doi.org/10.22495/cocv14i1p7
