Model specification and IPO performance: New insights from Asia

Moshirian, F; Ng, D; Wu, E

Model specification and IPO performance: New insights from Asia

Moshirian, F Ng, D Wu, E

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Publisher:: Elsevier Inc
Publication Type:: Journal Article
Citation:: Research in International Business and Finance, 2009, 24 (1), pp. 62 - 74
Issue Date:: 2009-01

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Field	Value	Language
dc.contributor.author	Moshirian, F	en_US
dc.contributor.author	Ng, D	en_US
dc.contributor.author	Wu, E	en_US
dc.date.issued	2009-01	en_US
dc.identifier.citation	Research in International Business and Finance, 2009, 24 (1), pp. 62 - 74	en_US
dc.identifier.issn	0275-5319	en_US
dc.identifier.uri	http://hdl.handle.net/10453/15851
dc.description.abstract	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.	en_US
dc.publisher	Elsevier Inc	en_US
dc.relation.ispartof	Research in International Business and Finance	en_US
dc.relation.isbasedon	10.1016/j.ribaf.2009.01.003	en_US
dc.rights	Elsevier required licence: © 2009 . This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/. The definitive publisher version is available online at https://doi.org/10.1016/j.ribaf.2009.01.003	en_US
dc.subject.classification	Finance	en_US
dc.title	Model specification and IPO performance: New insights from Asia	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	24	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	open_access
pubs.consider-herdc	false	en_US
pubs.issue	1	en_US
pubs.volume	24	en_US

Abstract:

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:

http://hdl.handle.net/10453/15851