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dc.contributor.authorChorruk, Jirapunen_US
dc.contributor.authorWorthington, Andrewen_US
dc.date.accessioned2017-05-03T14:52:46Z
dc.date.available2017-05-03T14:52:46Z
dc.date.issued2010en_US
dc.date.modified2011-07-18T06:29:18Z
dc.identifier.issn15660141en_US
dc.identifier.doi10.1016/j.ememar.2010.04.001en_AU
dc.identifier.urihttp://hdl.handle.net/10072/37844
dc.description.abstractThis paper examines the pricing and performance of initial public offerings (IPOs) on the Stock Exchange of Thailand (SET) from 1997 to 2008. Underpricing is calculated using headline underpricing and underpricing issuer loss, loss by market value, and loss by issuer price. The results show underpricing of 17.60%, 5.01%, 6.94%, 6.68% and 16.10%, respectively. This is significantly lower underpricing than documented in Thailand before the 1997 Asian financial crisis. Post-listing performance is assessed using monthly cumulative abnormal returns, buy-and-hold returns, and wealth relatives. The findings show that Thai IPOs generally outperform market benchmarks up to 24 months and underperform thereafter.en_US
dc.description.peerreviewedYesen_US
dc.description.publicationstatusYesen_AU
dc.format.extent245187 bytes
dc.format.mimetypeapplication/pdf
dc.languageEnglishen_US
dc.language.isoen_AU
dc.publisherElsevieren_US
dc.publisher.placeNetherlandsen_US
dc.relation.ispartofstudentpublicationNen_AU
dc.relation.ispartofpagefrom285en_US
dc.relation.ispartofpageto299en_US
dc.relation.ispartofissue3en_US
dc.relation.ispartofjournalEmerging Markets Reviewen_US
dc.relation.ispartofvolume11en_US
dc.rights.retentionYen_AU
dc.subject.fieldofresearchApplied Economics not elsewhere classifieden_US
dc.subject.fieldofresearchcode140299en_US
dc.titleNew evidence on the pricing and performance of initial public offerings in Thailand, 1997–2008en_US
dc.typeJournal articleen_US
dc.type.descriptionC1 - Peer Reviewed (HERDC)en_US
dc.type.codeC - Journal Articlesen_US
gro.rights.copyright© 2010 Elsevier B.V. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.en_US
gro.date.issued2010
gro.hasfulltextFull Text


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