{"id":"https://openalex.org/W3082609899","doi":"https://doi.org/10.1108/apjba-05-2020-0160","title":"Determinants of oversubscription of SME IPOs in India: evidence from quantile regression","display_name":"Determinants of oversubscription of SME IPOs in India: evidence from quantile regression","publication_year":2020,"publication_date":"2020-08-03","ids":{"openalex":"https://openalex.org/W3082609899","doi":"https://doi.org/10.1108/apjba-05-2020-0160","mag":"3082609899"},"language":"en","primary_location":{"id":"doi:10.1108/apjba-05-2020-0160","doi":"https://doi.org/10.1108/apjba-05-2020-0160","is_oa":false,"landing_page_url":"https://doi.org/10.1108/apjba-05-2020-0160","pdf_url":null,"source":{"id":"https://openalex.org/S38196630","display_name":"Asia-Pacific Journal of Business Administration","issn_l":"1757-4323","issn":["1757-4323","1757-4331"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Asia-Pacific Journal of Business Administration","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5068836899","display_name":"Nischay Arora","orcid":"https://orcid.org/0000-0002-2405-8907","observed_orcids":["https://orcid.org/0000-0002-2405-8907"]},"institutions":[{"id":"https://openalex.org/I165682329","display_name":"Guru Nanak Dev University","ror":"https://ror.org/05ghzpa93","country_code":"IN","type":"education","lineage":["https://openalex.org/I165682329"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Nischay Arora","raw_affiliation_strings":["University School of Financial Studies, Guru Nanak Dev University, Amritsar, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University School of Financial Studies, Guru Nanak Dev University, Amritsar, India","institution_ids":["https://openalex.org/I165682329"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5101659432","display_name":"Balwinder Singh","orcid":"https://orcid.org/0000-0002-8734-5532","observed_orcids":["https://orcid.org/0000-0002-8734-5532"]},"institutions":[{"id":"https://openalex.org/I165682329","display_name":"Guru Nanak Dev University","ror":"https://ror.org/05ghzpa93","country_code":"IN","type":"education","lineage":["https://openalex.org/I165682329"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Balwinder Singh","raw_affiliation_strings":["University School of Financial Studies, Guru Nanak Dev University, Amritsar, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University School of Financial Studies, Guru Nanak Dev University, Amritsar, India","institution_ids":["https://openalex.org/I165682329"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I165682329"],"apc_list":null,"apc_paid":null,"fwci":3.8544,"has_fulltext":false,"cited_by_count":26,"citation_normalized_percentile":{"value":0.93746087,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":92,"max":99},"biblio":{"volume":"12","issue":"3/4","first_page":"349","last_page":"370"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.5526999831199646,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.5526999831199646,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.3529999852180481,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.05000000074505806,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/ipo-oversubscription","display_name":"IPO oversubscription","score":0.8889999985694885},{"id":"https://openalex.org/keywords/issue-price","display_name":"issue price","score":0.7860000133514404},{"id":"https://openalex.org/keywords/issue-size","display_name":"issue size","score":0.753000020980835},{"id":"https://openalex.org/keywords/firm-size","display_name":"firm size","score":0.9679999947547913},{"id":"https://openalex.org/keywords/underwriter-reputation","display_name":"underwriter reputation","score":0.9990000128746033},{"id":"https://openalex.org/keywords/hot-markets","display_name":"hot markets","score":0.7440000176429749},{"id":"https://openalex.org/keywords/ipo-underpricing","display_name":"IPO underpricing","score":0.9589999914169312},{"id":"https://openalex.org/keywords/indian-smes","display_name":"Indian SMEs","score":0.6480000019073486},{"id":"https://openalex.org/keywords/ipo-regulation","display_name":"IPO regulation","score":0.6740000247955322},{"id":"https://openalex.org/keywords/ipo-valuation","display_name":"IPO valuation","score":0.7049999833106995},{"id":"https://openalex.org/keywords/quantile-regression","display_name":"quantile regression","score":0.5569999814033508},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.5619999766349792},{"id":"https://openalex.org/keywords/ipo-market-depth","display_name":"IPO market depth","score":0.45500001311302185}],"concepts":[{"id":"https://openalex.org/C12559387","wikidata":"https://www.wikidata.org/wiki/Q185142","display_name":"Initial public offering","level":2,"score":0.6761733889579773},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.6004558205604553},{"id":"https://openalex.org/C63817138","wikidata":"https://www.wikidata.org/wiki/Q3455889","display_name":"Quantile regression","level":2,"score":0.6003727912902832},{"id":"https://openalex.org/C48798503","wikidata":"https://www.wikidata.org/wiki/Q877546","display_name":"Reputation","level":2,"score":0.5064741373062134},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4978311061859131},{"id":"https://openalex.org/C46304622","wikidata":"https://www.wikidata.org/wiki/Q374814","display_name":"Certification","level":2,"score":0.4934495985507965},{"id":"https://openalex.org/C26503482","wikidata":"https://www.wikidata.org/wiki/Q1898080","display_name":"Underwriting","level":2,"score":0.47055768966674805},{"id":"https://openalex.org/C2779820595","wikidata":"https://www.wikidata.org/wiki/Q798505","display_name":"Listing (finance)","level":2,"score":0.4248563051223755},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.3846798539161682},{"id":"https://openalex.org/C162853370","wikidata":"https://www.wikidata.org/wiki/Q39809","display_name":"Marketing","level":1,"score":0.3680227994918823},{"id":"https://openalex.org/C121955636","wikidata":"https://www.wikidata.org/wiki/Q4116214","display_name":"Accounting","level":1,"score":0.3272400498390198},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3097895085811615},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.2905429005622864},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.27603578567504883},{"id":"https://openalex.org/C36289849","wikidata":"https://www.wikidata.org/wiki/Q34749","display_name":"Social science","level":1,"score":0.0},{"id":"https://openalex.org/C187736073","wikidata":"https://www.wikidata.org/wiki/Q2920921","display_name":"Management","level":1,"score":0.0},{"id":"https://openalex.org/C144024400","wikidata":"https://www.wikidata.org/wiki/Q21201","display_name":"Sociology","level":0,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1108/apjba-05-2020-0160","doi":"https://doi.org/10.1108/apjba-05-2020-0160","is_oa":false,"landing_page_url":"https://doi.org/10.1108/apjba-05-2020-0160","pdf_url":null,"source":{"id":"https://openalex.org/S38196630","display_name":"Asia-Pacific Journal of Business Administration","issn_l":"1757-4323","issn":["1757-4323","1757-4331"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-b","cwts-core","jufo-1","norway-1","poland-40","russia-white-list-1"],"host_organization":"https://openalex.org/P4310319811","host_organization_name":"Emerald Publishing Limited","host_organization_lineage":["https://openalex.org/P4310319811"],"host_organization_lineage_names":["Emerald Publishing Limited"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Asia-Pacific Journal of Business Administration","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":70,"referenced_works":["https://openalex.org/W18685313","https://openalex.org/W62004993","https://openalex.org/W142136886","https://openalex.org/W1539069494","https://openalex.org/W1592093976","https://openalex.org/W1600976585","https://openalex.org/W1969632991","https://openalex.org/W1970029252","https://openalex.org/W1973306961","https://openalex.org/W1981566670","https://openalex.org/W2012334063","https://openalex.org/W2015873037","https://openalex.org/W2019490945","https://openalex.org/W2023109861","https://openalex.org/W2023208963","https://openalex.org/W2033196457","https://openalex.org/W2034429356","https://openalex.org/W2038051874","https://openalex.org/W2039962838","https://openalex.org/W2046089071","https://openalex.org/W2046920533","https://openalex.org/W2059156966","https://openalex.org/W2059841502","https://openalex.org/W2066309326","https://openalex.org/W2066357210","https://openalex.org/W2070935805","https://openalex.org/W2074362600","https://openalex.org/W2079134474","https://openalex.org/W2089858078","https://openalex.org/W2096381076","https://openalex.org/W2112256230","https://openalex.org/W2117215260","https://openalex.org/W2129112457","https://openalex.org/W2132582515","https://openalex.org/W2134391930","https://openalex.org/W2147005732","https://openalex.org/W2148876341","https://openalex.org/W2162032544","https://openalex.org/W2162236555","https://openalex.org/W2167696894","https://openalex.org/W2183160785","https://openalex.org/W2184390217","https://openalex.org/W2186901682","https://openalex.org/W2190823096","https://openalex.org/W2205547986","https://openalex.org/W2332668331","https://openalex.org/W2585323132","https://openalex.org/W2595039994","https://openalex.org/W2752681351","https://openalex.org/W2759335500","https://openalex.org/W2768027430","https://openalex.org/W2770304545","https://openalex.org/W2885753329","https://openalex.org/W2908694571","https://openalex.org/W2929886459","https://openalex.org/W2937882685","https://openalex.org/W2942908152","https://openalex.org/W2947399249","https://openalex.org/W2968157217","https://openalex.org/W3009434990","https://openalex.org/W3121467893","https://openalex.org/W3123663007","https://openalex.org/W3125468122","https://openalex.org/W3125906371","https://openalex.org/W3125917831","https://openalex.org/W3126029451","https://openalex.org/W3126080927","https://openalex.org/W4245372039","https://openalex.org/W4254270929","https://openalex.org/W7062519784"],"related_works":["https://openalex.org/W4286268736","https://openalex.org/W4410801431","https://openalex.org/W7172318221","https://openalex.org/W4414549478","https://openalex.org/W3010130971","https://openalex.org/W2752681351","https://openalex.org/W4301586323","https://openalex.org/W7171704037","https://openalex.org/W4306854377","https://openalex.org/W3011699002"],"abstract_inverted_index":{"Purpose":[0],"The":[1,28,98,147,222],"study":[2,29,76,149,209,227,278,328,351],"aims":[3],"to":[4,34,43,65,87,124,133,152,195,206,230,241,249,302],"measure":[5],"the":[6,11,67,75,89,93,159,197,208,211,225,245,261,277,294,324,331,342,358,363],"subscription":[7,252],"level":[8],"and":[9,17,46,53,59,84,119,142,235,281,288,385],"examine":[10],"determinants":[12,68,94],"of":[13,15,69,71,79,95,155,199,217,224,344,346,390],"oversubscription":[14,70,214,386],"small":[16,52],"medium":[18,54],"enterprise":[19,55],"(SME)":[20],"initial":[21],"public":[22],"offerings":[23],"(IPOs)":[24],"in":[25,136,157,192,215,251,254,266,269,299,308,317,333,337,356,387],"India.":[26],"Design/methodology/approach":[27],"employs":[30],"cross":[31],"sectional":[32],"data":[33],"analyze":[35],"403":[36],"SME":[37,72,267,311,347,392],"IPOs":[38,268,336],"issued":[39],"from":[40],"Feb":[41],"2012":[42],"May":[44],"2018":[45],"listed":[47],"on":[48],"Bombay":[49],"Stock":[50,61],"Exchange's":[51],"(BSE":[56],"SME)":[57],"platform":[58],"National":[60],"Exchange":[62],"(NSE)":[63],"EMERGE":[64],"investigate":[66],"IPOs.":[73,348,393],"Hence,":[74],"makes":[77],"use":[78],"ordinary":[80],"least":[81],"square":[82],"regression":[83,86,138],"quantile":[85,137],"test":[88],"hypotheses":[90],"formulated":[91],"for":[92,184,263,285],"oversubscription.":[96,127,162],"Findings":[97],"main":[99],"findings":[100,198,223,295],"unveil":[101],"that":[102,247,340],"while":[103],"issue":[104,129,370,374],"price,":[105,371],"pricing":[106,372],"mechanism,":[107,373],"listing":[108,244,378],"delay":[109],"negatively":[110],"influence":[111,126],"oversubscription;":[112],"firm":[113,367,376],"size,":[114,375,377],"underwriter":[115,380],"reputation,":[116,381],"hot":[117,382],"market":[118],"underpricing":[120,384],"have":[121],"been":[122],"divulged":[123],"positively":[125],"However,":[128],"size":[130],"emerged":[131],"out":[132],"be":[134],"significant":[135],"at":[139],"25th,":[140],"50th":[141],"75th":[143],"quantiles.":[144],"Research":[145],"limitations/implications":[146],"present":[148,226],"is":[150,190,352],"confined":[151],"limited":[153],"number":[154],"variables":[156,168],"understanding":[158],"factors":[160,212,246],"impacting":[161],"Future":[163,202],"studies":[164,194,203],"could":[165],"include":[166],"macroeconomic":[167],"like":[169,257,369],"gross":[170],"domestic":[171],"product":[172],"(GDP),":[173],"inflation":[174],"rate,":[175],"industry":[176,183],"specific":[177],"variable,":[178],"i.e.":[179],"technology/nontechnology":[180],"industry,":[181],"financial/nonfinancial":[182],"better":[185,300],"understanding.":[186],"Cross":[187],"country":[188],"analysis":[189],"suggested":[191],"future":[193,264,335],"validate":[196],"current":[200],"study.":[201],"are":[204],"advised":[205],"conduct":[207],"examining":[210,362],"affecting":[213],"light":[216],"COVID-19":[218],"pandemic.":[219],"Practical":[220],"implications":[221,229],"offer":[228],"academicians,":[231],"investors,":[232,276],"investment":[233,290,297,307],"advisors":[234,298],"regulators.":[236],"It":[237],"provides":[238,279],"useful":[239,284],"insights":[240],"researchers":[242],"by":[243,361],"contribute":[248],"variation":[250],"levels":[253],"emerging":[255],"economy":[256],"India":[258],"thereby,":[259],"paving":[260],"way":[262,339],"researches":[265],"countries":[270],"with":[271],"different":[272],"institutional":[273],"settings.":[274],"For":[275],"additional":[280],"novel":[282,354],"information":[283],"IPO":[286,359],"valuation":[287],"informed":[289],"decisions.":[291],"In":[292],"addition,":[293],"put":[296],"place":[301],"guide":[303],"potential":[304],"investors":[305],"regarding":[306],"good":[309],"quality":[310],"stocks":[312],"(i.e.":[313],"highly":[314],"subscribed":[315],"stocks)":[316],"more":[318],"informative":[319],"manner.":[320],"Last":[321],"but":[322],"not":[323],"least,":[325],"as":[326],"this":[327],"would":[329],"assist":[330],"regulators":[332],"handling":[334],"a":[338,353],"augments":[341],"chances":[343],"success":[345],"Originality/value":[349],"This":[350],"contribution":[355],"widening":[357],"literature":[360],"relationship":[364],"between":[365],"pre-IPO":[366],"actions":[368],"delay,":[379],"market,":[383],"unexplored":[388],"settings":[389],"Indian":[391]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":3},{"year":2024,"cited_by_count":5},{"year":2023,"cited_by_count":8},{"year":2022,"cited_by_count":6},{"year":2021,"cited_by_count":2}],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2020-09-08T00:00:00"}