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Based on the textual-analyzed data covering 2148 IPO firms in China’s stock market during the 2007–2018 period, the authors’ purpose is to examine the influence of anti-takeover provision (ATP) adoption on initial public offerings (IPO) underpricing and identify the reducing effect of the former.

The authors examine the sample consisting of Chinese A-share listed IPO firms between 2007 and 2018 from China Stock Market Accounting Research and Chinese Research Data Services, with ATP data collected from the IPO firm chapters. Specifically, the authors use text analysis to identify whether there are ATPs in the IPO firm chapters, as well as the number of ATPs. H1: IPO underpricing is less severe for firms adopting ATPs. H2: The effect of ATP adoption on IPO underpricing is more salient for firms in worse information environments.

The authors examine the influence of ATP adoption on IPO underpricing and identify the reducing effect of the former. This effect can be explained by the fact that adopting ATPs in IPO firm chapters can reduce information asymmetry to a large extent by helping external investors obtain more private information, which alleviates IPO underpricing. The authors also find that the reducing effect is more significant in the worsened information environment. Furthermore, the authors explore the influence of adopting ATPs on other IPO characteristics and find positive effects on IPO over-subscription, funds raised and trading activity and negative effects on listing fees.

This study mainly contributes to the literature from the following two aspects. First, the study enriches the literature about the influencing factors of IPO underpricing. Second, the study also enriches the literature about the economic consequences of ATP adoption. This study also has important policy implications. With the coming of the era of decentralized ownership in China’s capital market, ATP adoption has become more important and attracted more attention. Also, investors focus more on pricing efficiency. The findings in this paper provide a more comprehensive understanding of the relationship between ATP adoption and IPO underpricing.

This study aims to investigate the relationship between perceived usefulness, ease of use and adoption of online banking by customers in the Indian context. Using the technology acceptance model (TAM) as the base, this study underscores the importance of perceived enjoyment, security and trust in influencing customer satisfaction.

Using a structured survey instrument, this paper gathered data from 476 respondents in the southern part of India. First, the instrument’s psychometric properties were tested, and hypotheses were tested using Hayes’s PROCESS macros.

The results indicated that (i) perceived usefulness and perceived ease of use are positively related to the attitude of the consumers to use online banking, (ii) attitude to use is positively related to adoption intention and (iii) adoption intention positively predicts customer satisfaction. The results also reveal that (i) perceived enjoyment moderates the relationship between attitude to use and adoption intention, (ii) trust moderates the relationship between adoption intention and customer satisfaction and (iii) security (second moderator) moderates the moderated relationship between trust (first moderator) and adoption intention on customer satisfaction.

As with any survey research, self-report measures have the inherent problems of common method bias and social desirability bias. However, the authors have taken adequate care to minimize these limitations. In addition, the research has implications for consumer behavior concerned with online banking.

This study contributes to both practicing managers and the literature on online banking. The study suggests that bank managers need to focus on ensuring security and earning customers’ trust to motivate them to adopt online banking.

The study contributes to society by unraveling the antecedent conditions leading to accepting innovative changes initiated by banks. Especially in rural and cooperative banks, customers adopting online banking helps save their time and energy in visiting the physical locations of banks.

This study provides new insights into the complex relationships among variables contributing to customer satisfaction. The double-layered moderated moderated-mediation conceptual model developed and tested in this study is a novel idea that makes a significant contribution to the growing literature on online banking.