Abstract
The purpose of this study was to empirically investigate initial
public offering underpricing and to investigate the determinants
of IPOs listed at Pakistan stock exchange during the period
from January 2000 to December 2010. The study found that
underpricing phenomenon exists in KSE 100 index to reduce
the level of uncertainty between the informed and uninformed
investors at the time of IPO. The sample data on 59 IPO firms
was collected and Market Adjusted Abnormal Returns Model
(MAAR) has been employed to measure the post-IPO
performances of the new issues. The results of this study are in
line with the literature on IPO anomalies stating that
underwriters deliberately underpriced the IPOs to a degree of
46% on average.
Uzma Aslam, Saif Ullah. (2017) Determinants of IPO Short Run and Long Run Performance: A Case Study on the Listed Firm of Pakistan Stock Exchange, Paradigms , Vol 11, Issue 2 .
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