@article{Souvik Banerjee_2020, title={BOARD COMPOSITION AFFECTING IPO GRADE : A LOGISTIC REGRESSION APPROACH}, volume={11}, url={https://journals.smsvaranasi.com/index.php/managementinsight/article/view/413}, abstractNote={<p>In India an important experiment in the form of IPO(Initial Public Offer) Grading took off in 2007. Rating<br>of debt instruments is an universally accepted practise, however Indian capital market regulator<br>SEBI(Security Exchange Board of India), pioneered the concept of equity instrument rating. One of the<br>criterion on which IPO bound companies, are evaluated is corporate governance.Composition of the board<br>of directors, is an important aspect, on which corporate governance depends. In this research paper, it<br>is explored whether number of directors in the board, exposure of the independent directors in terms of<br>board membership in other firms and also the number of the independent directors in the board have<br>any bearing on the grade assigned to an IPO bound company. Results show, that out of these three factors,<br>two factors namely board size and independent director’s exposure have statistically significant effect<br>on the grade obtained by the companies. Bigger boards with more directors, and more independent<br>directors with board membership in other firms results in higher grade being obtained by the IPO bound<br>companies.</p&gt;}, number={1}, journal={Management Insight}, author={Souvik Banerjee}, year={2020}, month={Apr.}, pages={50-57} }