Review of short-run performance of initial public offerings in Australia

Lutfa Tilat Ferdous; Niroshani Parahara Withanalage; Abyan Amirah Qamaruz Zaman

doi:10.22495/cocv18i2art16

Review of short-run performance of initial public offerings in Australia

Lutfa Tilat Ferdous, Niroshani Parahara Withanalage, Abyan Amirah Qamaruz Zaman

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Abstract

This study investigates the short-run performance of initial public offerings in Australia. Based on sources from the Morningstar DatAnalysis database, we analyzed 211 Australian publicly traded initial public offerings (IPO) listed on the Australian stock exchange between January 2011 and December 2015 using multiple regression analysis with dummies to represent industry and listing year. According to our analysis, total market return indicates an IPO underpricing phenomenon whereas secondary market shows an overpricing scenario. Moreover, this analysis supports the contention that short-run performance fluctuations were based on the listing year and industry settings. This study contributes to the literature by analysing the short-run performance of both the primary and secondary markets.

Original language	English
Number of pages	13
Journal	Corporate Ownership and Control
Volume	18
Issue number	2
Early online date	22 Feb 2021
DOIs	https://doi.org/10.22495/cocv18i2art16
Publication status	Published - 22 Feb 2021

Bibliographical note

Copyright © 2021 The Authors
This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0). https://creativecommons.org/licenses/by/4.0/

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10.22495/cocv18i2art16Licence: CC BY 4.0

Review of short-run performance of initial public offerings in Australia
Copyright © 2021 The Authors This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0). https://creativecommons.org/licenses/by/4.0/
Final published version, 659 KBLicence: CC BY 4.0

Cite this

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Review of short-run performance of initial public offerings in Australia

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