The market performance of initial public offerings in the Philippines: An application of the capital asset pricing model and a test of market efficiency

• Main Author: Velasco, Aida Licaros
• Format: text
• Language: English
• Published: Animo Repository 1995
• Subjects: Capital assets pricing model; Capital market; Investments > Mathematical models; Philippines > Commerce; Pricing; Corporate Finance
• Online Access: https://animorepository.dlsu.edu.ph/etd_doctoral/763
• Institution: De La Salle University

This paper studies the market performance of unseasoned issues offered to the public more commonly known as initial public offering or IPO for the period 1987-1993.Results of the study showed that Philippine IPOs registered a positive initial abnormal return of 29.31 percent and an average monthly r...