Journal of Hospitality Application and Research

2018 | Volume 13 | Issue Issue 2

Examining the Performance of Initial Public Offerings: A Study of Indian Hospitality and Tourism Industry

1. Balpreet Singh – Research Scholar, Department Of Management, I K Gujral Punjab Technical Univ., Jalandhar, Punjab.

2. Kapil Gupta – Research Scholar, Department Of Management, I K Gujral Punjab Technical Univ., Jalandhar, Punjab.

Received
29-Jan-2019 		Accepted
- 		Published
29-Jan-2019
Abstract
Present study is an attempt to examine the listing day market performance of public issues floated by hospitality and tourism firms in India. During the sample period of 15 years (from January 2004 to March 2018) the average initial day Market Adjusted Excess Return (MAER) was found to be 18.8%. Further, the average return of travel support services segment was observed to be highest within the sector. The findings of the study are consistent with Chen and Chen, (2010).
Keywords Hospitality and Tourism Industry, Initial Public Offerings (IPOs), Underpricing
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