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IPO Performance in Short Run and Long Run: A Case of Karachi Stock Exchange Listed Firms in Pakistan

Author

Listed:
  • Waseemullah

    (Faculty of Management and administrative Sciences, University of Gujrat, Punjab, Pakistan)

  • Adnan Sohail

    (Punjab Group of Colleges, G. T. Road, Gujrat)

Abstract
Purpose: This empirical study documents the evidence of initial excess return to the investors who invest in the IPO. Methodology: By using CAR, the findings show underperformance of IPO both in short run and long run in Pakistan. Findings: The results are consistent with the expectations and prior studies’ findings done in other countries of the world. Recommendations: The study contributes to corporate finance literature and provides a substantial evidence of IPO under-pricing in Pakistan.

Suggested Citation

  • Waseemullah & Adnan Sohail, 2015. "IPO Performance in Short Run and Long Run: A Case of Karachi Stock Exchange Listed Firms in Pakistan," International Journal of Economics and Empirical Research (IJEER), The Economics and Social Development Organization (TESDO), vol. 3(7), pages 320-326, July.
    • Handle: RePEc:ijr:journl:v:3:y:2015:i:7:p:320-326
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    More about this item

    Keywords

    KSE; IPO Performance;

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets

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