Purpose

This paper aims to review, discuss and synthesize the literature focusing on the Indian initial public offering (IPO) market. Understanding the Indian IPO market can help answer broader corporate finance questions. The growing number of IPOs in the Indian context, coupled with the increasing importance of the Indian economy in the global market, makes this review an essential topic.

Design/methodology/approach

The systematic literature review methodology was adopted to review 111 papers published between 2002 and 2021. The authors used the Preferred Reporting Items for Systematic Reviews and Meta-Analyses approach during the review process. Additionally, the authors use a bibliometric review methodology to examine the pattern and trend of research in this area of interest. Furthermore, the authors conduct a critical review and synthesis of the top 20 papers based on citations. The authors also use a co-citation network and manual content analysis method to identify key research themes.

Findings

This review helps in identifying major themes of research in this area of interest. The authors find that majority of the research has focused on IPO performance whereas post-IPO performance needs critical attention as well. The authors develop a comprehensive framework and future research agenda based on their discussion.

Research limitations/implications

Meta-analysis of the literature can be conducted to gain better insights into the findings of prior studies.

Practical implications

This review paper develops a comprehensive overview on Indian IPO market which can be of interest not only to Indian scholarship. India as an economy is increasingly gaining attention at the global level. Hence, the future research objectives as illustrated in the study can be of interest for the global scholarship also.

Originality/value

To the best of the authors’ knowledge, this is the first comprehensive review paper that examines, synthesizes and outlines the future research agenda on Indian IPO studies. This review can be useful for researchers, business policymakers, finance professionals and anyone else interested in the Indian IPO market.

中文翻译：

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印度IPO研究：系统回顾与未来研究议程

目的

本文旨在回顾、讨论和综合有关印度首次公开募股（IPO）市场的文献。了解印度 IPO 市场有助于回答更广泛的企业融资问题。印度IPO数量不断增加，加上印度经济在全球市场中的重要性日益增加，使得本次审查成为一个重要话题。

设计/方法论/途径

采用系统文献综述方法对2002年至2021年间发表的111篇论文进行了综述。作者在综述过程中使用了系统综述和荟萃分析方法的首选报告项目。此外，作者使用文献计量综述方法来检查该感兴趣领域的研究模式和趋势。此外，作者还根据引用对排名前 20 的论文进行了严格审查和综合。作者还使用同被引网络和手动内容分析方法来确定关键研究主题。

发现

本综述有助于确定该感兴趣领域的主要研究主题。作者发现，大多数研究都集中在 IPO 绩效上，而 IPO 后的绩效也需要重点关注。作者根据他们的讨论制定了全面的框架和未来的研究议程。

研究局限性/影响

可以对文献进行荟萃分析，以便更好地了解先前研究的结果。

实际影响

这篇评论文章对印度 IPO 市场进行了全面的概述，这不仅引起了印度学术界的兴趣。印度作为一个经济体越来越受到全球的关注。因此，研究中阐述的未来研究目标也可能引起全球学术界的兴趣。

原创性/价值

据作者所知，这是第一篇全面审查、综合并概述印度 IPO 研究未来研究议程的综述论文。这篇评论对于研究人员、商业政策制定者、金融专业人士和任何对印度 IPO 市场感兴趣的其他人来说都是有用的。