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IPO Performance in Short Run and Long Run: A Case of Karachi Stock Exchange Listed Firms in Pakistan

Waseemullah and Adnan Sohail
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Waseemullah: Faculty of Management and administrative Sciences, University of Gujrat, Punjab, Pakistan
Adnan Sohail: Punjab Group of Colleges, G. T. Road, Gujrat

International Journal of Economics and Empirical Research (IJEER), 2015, vol. 3, issue 7, 320-326

Abstract: Purpose: This empirical study documents the evidence of initial excess return to the investors who invest in the IPO. Methodology: By using CAR, the findings show underperformance of IPO both in short run and long run in Pakistan. Findings: The results are consistent with the expectations and prior studies’ findings done in other countries of the world. Recommendations: The study contributes to corporate finance literature and provides a substantial evidence of IPO under-pricing in Pakistan.

Keywords: KSE; IPO Performance (search for similar items in EconPapers)
JEL-codes: D53 (search for similar items in EconPapers)
Date: 2015
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