Purpose: The purpose of this paper is to ascertain the monthly seasonality in the Indian stock market after taking into consideration the market features of leptokurtosis, volatility clustering and the leverage effect. Design/methodology/approach: Augmented Dickey-Fuller, Phillips-Perron and...

Purpose: The unique regulatory design of India provides us with the opportunity to disaggregate traditional initial public offering (IPO) underpricing into three categories: voluntary, pre-market and post-market. The presence of anchor investors in India makes it a compelling case to study....

Purpose – The purpose of this paper is to understand current practices in capital budgeting (including real options) in Indian companies and provide a normative framework (guidelines) for practitioners (based on our findings and literature reviewed). Design/methodology/approach – A...

Purpose: The present study aims to analyse the literature on capital structure theories for the last 21 years to identify the existing gaps and themes for prospective researchers in this domain. Design/methodology/approach: A sample of 183 articles published from 1999 to 2019 in the Scopus...

Purpose: The purpose of this paper is to examine the capital structure determinants and speed of adjustment (SOA) toward the target capital structure of firms. Design/methodology/approach: The study has used the generalized method of moments (GMM) model and two-stage least squares (TSLS) to the...

Purpose – Memorandum of Understanding (MoU) has been conceived as an instrument to quantify/assess social and commercial obligations/performance of central public sector enterprises (PSEs) in India. The purpose of this paper is to measure the financial performance of the MoU PSEs and to...

Capital budgeting decisions affect the profitability of a business organization. Since these decisions are related to fixed assets, they have direct bearing on earnings since it is fixed assets which earn profits for the enterprise. Besides, these decisions relate to the commitment of large...