PERCEPTION AND BEHAVIOURAL INTENTION OF RETAIL INVESTORS TOWARDS INITIAL PUBLIC OFFERS IN INDIAN SCENARIO.

Purpose of this paper is to identify a model to understand the relationship between various construct in understanding perception of retail investor towards initial public offers. Proposed model was based on Theory of Planned Behaviour (TPB). TPB in other investment alternatives were widely discussed whereas this research is specific towards the primary market. Data was collected through structured questionnaire from selected sample size and finally 253 responses were used to justify the structure. In this model Perceived behavioural control was reframed as Economy, Industry and Company attributes (EIC) with a justification of control that is possible through the attributes mentioned above. Also influence of information on EIC and Investor attitude is tested whose results were positive. Hypothesis were developed to understand the relationship which concluded with positive relationship between investor attitude to Behavioural Intention, Subjective norms to Behavioural Intention, EIC attribute to Investor Attitude and EIC attributes to Behavioural intention. Relationship between Subjective norm and Investor attitude was rejected. It was found Investor Attitude is the most influencing factor in forming Behaviour Intentions of an Individual. [ABSTRACT FROM AUTHOR]

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