| Summary: | 碩士 === 銘傳大學 === 財務金融學系碩士班 === 102 === Past empirical research of domestic and foreign related IPO, the IPO companies were found to have listed in the initial positive excess returns, but in the long run, its share price performance is poor performance. Thus, the empirical research in addition to the company Gre IPO market in Taiwan is also the phenomenon of long-term stock price is poor performance, but also learn more about whether the long-term stock price performance and firm characteristics factors. More particularly, the present study pre-IPO want in-depth analysis of Taiwan''s unique history Emerging market transactions, whether listed companies with long-term post-IPO stock price performance related to sex.
Empirical results show that emerging market transaction history displays IPO company before listing the prevalence of bubble, that is, compared to the closing price on the first day after the IPO, emerging high transaction history is significantly higher. Secondly, March 1, 2005 after the company''s IPO, did not appear in long-term stock price is poor performance, instead, under the measure without the annualized rate of return for each period, the share price performance as a measure of the longer and higher. Finally, the analysis of the factors affecting the long-term stock price performance, found that when the company set up longer lives, better long-term stock price performance, but when the price bubble emerging market trading is larger, long-term stock price performance is also higher.
|
|---|
