Model specification and IPO performance: New insights from Asia

Publisher:
Elsevier Inc
Publication Type:
Journal Article
Citation:
Research in International Business and Finance, 2009, 24 (1), pp. 62 - 74
Issue Date:
2009-01
Full metadata record
Files in This Item:
Filename Description Size
Thumbnail2010000913.pdf174.54 kB
Adobe PDF
This study examines the post-issue stock price performance of initial public offerings (IPOs) from advanced and emerging Asian markets from 1991 to 2004.We provide a comparative assessment on the short- and long-term stock performance of Asian IPOs with comprehensive international evidence. We use several different methods to examine the robustness of IPO performance. Our results reveal that whilst there is initial underpricing in Asian IPOs, the existence of long-run underperformance for the Asian IPOs depends resoundingly on the methodology used for assessment.
Please use this identifier to cite or link to this item: