The intra-industry effect of initial public offering to listed companies of selected industries in the Philippines from 2000-2014

Date of Publication

2015

Document Type

Bachelor's Thesis

Degree Name

Bachelor of Science in Management of Financial Institutions

Subject Categories

Finance and Financial Management

College

Ramon V. Del Rosario College of Business

Department/Unit

Financial Management

Thesis Adviser

Denmark Alarcon

Defense Panel Chair

Alfredo M. Santoyo

Defense Panel Member

Frederick P. Romero

Abstract/Summary

In the Philippines, the equity market has been rapidly growing resulting to more companies entering the market and people investing in it. One way for a company to become part of the market is through an Initial Public Offering (IPO) in which companies sell its shares to the public for the first time. In this study, the researchers looked into the abnormality of the returns on the rival firms' stock prices before, during, and after the IPO. The researchers utilized IPOs from three industries namely: electric services, commercial banks, and operators of apartment buildings that were listed from 2000-2014. The results were obtained by getting the cumulative abnormal return (CAR) per industry and testing its significance per event window, [-10, 10], [-5, 5], [-3, 3], [-1, 1], using the Boehmer, Musumeci, and Poulsen (BMP) test. This study shows that an IPO in electric services industry does not impose a significant impact on all event windows. An IPO in the Commercial Banks industry has a significant impact only on [-1, 1] event window and the operators of apartment building industry has a significant impact on all event windows.

Abstract Format

html

Language

English

Format

Print

Accession Number

TU20487

Shelf Location

Archives, The Learning Commons, 12F, Henry Sy Sr. Hall

Physical Description

98 leaves; 28 cm. + ;1 computer disc; 4 3/4 in.

Keywords

Equity -- Philippines; Investments -- Philippines

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