Noise trading and the valuation of initial public offerings in Singapore.

• Main Author: Tan, Meng Kim.
• Other Authors: Ho Kim Wai
• Format: Theses and Dissertations
• Language: English
• Published: 2010
• Subjects: DRNTU::Business::Finance::Equity
• Online Access: http://hdl.handle.net/10356/42563
• Institution: Nanyang Technological University

Past studies done on the initial public offering (IPO) market have largely found that IPOs experience high positive first-day but insignificant negative long-term aftermarket abnormal returns. Researchers have widely accepted this as an underpricing phenomenon by issuers and underwriters to attra...