An analysis on the demand for inital public offerings and its aftermarket performance: Evidence from the Philippine stock market for the period 2000-2010

Date of Publication

2012

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

Rene Betita

Defense Panel Chair

Edralin Lim

Defense Panel Member

Manrico Masagca
Joseph Vincent David
Neriza M. Delfino

Abstract/Summary

This study aims to establish the relationship between IPO investor demand and its aftermarket performance in the Philippine stock market. The researchers found out that the high demand IPOs earn positive initial returns, while low demand IPOs earn negative initial return. On the contrary, high demand IPOs realize positive long-run excess returns. This result implies that investor demand affects initial and long-run aftermarket performance of IPOs. The result suggests that (1) there has been a high degree of underpricing IPOs in the Philippines which greatly affects IPOs initial performance and, (2) IPOs long-run aftermarket performance would reflect their true value as more information is available to investors.

Abstract Format

html

Language

English

Format

Print

Accession Number

TU17165

Shelf Location

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

Physical Description

93 leaves : color illustrations ; 28 cm.

Keywords

Going public (Securities)--Philippines; Stocks-- Philippines; Stock exchanges--Philippines

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