The long-run performance of initial public offerings: evidence from a transition economy
by Nguyen Van Tan; Ninh Thi Trang
Afro-Asian J. of Finance and Accounting (AAJFA), Vol. 13, No. 5, 2023

Abstract: This study provides empirical evidence on the long-run performance of initial public offerings (IPOs), along with identifying factors affecting the long-run performance of IPOs in Vietnam. By selecting 183 IPOs in Vietnam from 2005 to 2019, the authors conclude that the long-run performance measures of IPOs (AR_t and CAR_1,t) change over time after listing. In particular, these IPOs tend to underperform from the 14th month considering AR_t. IPOs' underperformance occurs when there are negative cumulative abnormal returns in the long run. This study adopts the Bayesian model averaging (BMA) method and the results show that factors affecting the long-run performance of the IPOs include initial returns and offer size.

Online publication date: Fri, 15-Sep-2023

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the Afro-Asian J. of Finance and Accounting (AAJFA):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com