First year price trends for new issues on the Singapore stock exchange

This study investigates the first year performance of new issues on the Stock Exchange of Singapore (SES). The objectives are aimed at studying whether investors are able to gain excess returns by investing in initial public offerings (IPOs) on their first day of trading and whether the average pric...

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Bibliographic Details
Main Authors: Ow, Fook Chuen, Wong, Max Wai Hong, Tan, Vincent Hwa Huat
Other Authors: Nanyang Business School
Format: Final Year Project
Language:English
Published: 2014
Subjects:
Online Access:http://hdl.handle.net/10356/59718
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Institution: Nanyang Technological University
Language: English
Description
Summary:This study investigates the first year performance of new issues on the Stock Exchange of Singapore (SES). The objectives are aimed at studying whether investors are able to gain excess returns by investing in initial public offerings (IPOs) on their first day of trading and whether the average price pattern observed for the entire group of IPOs is consistent with the efficient market hypothesis.