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Towards a rational bidding process of initial public offerings: a proposed model for secure auction based on homomorphic computation and secure hash functions

Towards a rational bidding process of initial public offerings: a proposed model for secure... There has been a large pool of research on the factors of initial public offerings (IPO) underpricing and investors' herd behaviour that influence investment decisions in general but no attention has been paid on the security aspects of IPO bidding and allocation processes to avoid unfair and fraudulent trading activities. This paper proposes a cryptographic model for secure auction of initial public offerings in Indian context. The paper synthesises IPOs by identifying the vulnerable points in it and proposes a homomorphic computation-based cryptographic model to secure it. The model uses a cryptographic hash function-based data hiding protocol for its auction process. The total infrastructure setup has also been discussed and the security measures are analysed. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Electronic Finance Inderscience Publishers

Towards a rational bidding process of initial public offerings: a proposed model for secure auction based on homomorphic computation and secure hash functions

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Publisher
Inderscience Publishers
Copyright
Copyright © Inderscience Enterprises Ltd
ISSN
1746-0069
eISSN
1746-0077
DOI
10.1504/IJEF.2018.092204
Publisher site
See Article on Publisher Site

Abstract

There has been a large pool of research on the factors of initial public offerings (IPO) underpricing and investors' herd behaviour that influence investment decisions in general but no attention has been paid on the security aspects of IPO bidding and allocation processes to avoid unfair and fraudulent trading activities. This paper proposes a cryptographic model for secure auction of initial public offerings in Indian context. The paper synthesises IPOs by identifying the vulnerable points in it and proposes a homomorphic computation-based cryptographic model to secure it. The model uses a cryptographic hash function-based data hiding protocol for its auction process. The total infrastructure setup has also been discussed and the security measures are analysed.

Journal

International Journal of Electronic FinanceInderscience Publishers

Published: Jan 1, 2018

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