The International Journal of Accounting and Business Society
Vol 23, No 2 (2015): The International Journal of Accounting and Business Society

MULTI FACTOR EXPLANATION TO IPO LONG RUN UNDERPERFORMANCE ANOMALY: SRI LANKAN EVIDENCE

Ediriwickrama, T.C (Unknown)
Azeez, A.A (Unknown)

Article Info

Publish Date
16 Dec 2016

Abstract

This paper focuses on IPO long run underperformance anomaly and the application of calendar time techniques to dissect anomalous behavior of IPO stocks. More specifically this paper will provide fresh evidence on how multi factor models work on a specific type of security (IPO stocks in this scenario) in an emerging market like Sri Lanka. It is analyzed IPOs over a period from 2000 to 2012 on Colombo Stock Exchange (CSE). Main finding of the study is that traditional market beta still remains strong despite the employment of latest multi factor models.Keywords: CSE, Initial public offerings, long run underperformance, Sri Lanka

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Journal Info
The International Journal of Accounting and Business Society
Website

Abbrev

ijabs

Publisher

Universitas Brawijaya

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences

Description

The International Journal of Accounting and Business Society (IJABS), is published by Accounting Department, Faculty of Economics and Business, University of Brawijaya, Indonesia, which is a dissemination medium for research result from researchers and lecturers in management, accounting, ...