Long run performance of IPO'S on the JSE: taking it to 10 years

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dc.contributor.authorAgostinetto, Luciano
dc.date.accessioned2020-11-04T09:17:40Z
dc.date.available2020-11-04T09:17:40Z
dc.date.issued2018
dc.descriptionA research report submitted to the Faculty of Commerce, University of the Witwatersrand, Johannesburg, in partial fulfilment for the degree of M,Com ( School of Economic and Business Sciencesen_ZA
dc.description.abstractThis paper investigates the long run performance of 270 South African IPOs during the period 1996 to 2016. Significant under-pricing in the short term and underperformance in the long term is found for equally-weighted event time CARs and buy-and-hold returns using two market benchmarks. This study took the long-term period past five years all the way to ten years to investigate if long-run underperformance persists in South African IPOs. It is found that underperformance persists in IPOs that list on the JSE and this underperformance can be explained by the window of opportunity hypothesis.en_ZA
dc.description.librarianAndrew Chakane 2020en_ZA
dc.identifier.urihttps://hdl.handle.net/10539/29939
dc.language.isoenen_ZA
dc.subjectFinanceen_ZA
dc.subjectMarket benchmarksen_ZA
dc.subjectInitial Public Offeringen_ZA
dc.subjectSeasonal Equity Offeringen_ZA
dc.subjectFinancial Times-Stock Exchangeen_ZA
dc.subjectCumulated Abnormal Returnsen_ZA
dc.subjectBuy and Hold Abnormal Returnsen_ZA
dc.subjectJohannesburg Securities Exchangeen_ZA
dc.titleLong run performance of IPO'S on the JSE: taking it to 10 yearsen_ZA
dc.typeThesisen_ZA

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