There is little evidence to show that capital markets allocate capital to the most profitable uses. We bridge this gap by examining Indian IPOs. When market regulations are weak, more firms go public and firms with poor fundamentals raise more capital. Over time, primary markets do not...

Using a proprietary dataset comprising of 937,663 quotes for 97 IPO firms we examine the trading activities of investors in newly listed firms during the one-hour preopening auction on Bombay Stock Exchange on the listing day. We find that the offer-to-first quote return largely explains IPO...

Using a proprietary dataset comprising of 937,663 quotes for 97 IPO firms we examine the preopening trading activities of investors in newly listed firms during the one-hour preopening auction on the listing day on Bombay Stock Exchange. We find that significant price discovery takes place...

The Financial crisis of 2008 led the Reserve Bank of India to lay down stricter guidelines for Corporate Governance disclosures especially for banks both in the Private sector and Public Sector. This paper looks at how effective these changes in the guidelines of Corporate Governance disclosure...