碩士 / 國立高雄第一科技大學 / 風險管理與保險研究所 / 102 / This study investigates the relationship between timing of issuance and abnormal return from IPOs for foreign issuers in Taiwan. Furthermore, the abnormal return of this study should be definite as market-adjusted model. Besides exploring the timing factors that influence abnormal returns, other variables also be considered. Finally, we attempt to investigate whether timing factors and other variables would affect the abnormal return from IPOs for foreign issuers by adopting multiple regression analysis.
The empirical results suggest that there is a positive relationship between first-day return and change in stock market indices or leading indicators. However, there is not relationship between short-term abnormal return and timing of issuance. In addition, there is negative abnormal return until 60 day after IPO, which is related to firm size positively. But there is negative relationship between the price of IPOs and short-term abnormal return. By contrast, the abnormal return until 60 day after IPO for Taiwan issuers is positive. And indicate the investor overreaction to IPOs for foreign issuers stronger than the IPOs for domestic issuers.
| Identifer | oai:union.ndltd.org:TW/102NKIT5218015 |
| Date | January 2014 |
| Creators | Yu-Cheng Wu, 吳育呈 |
| Contributors | Pai-Lung Chou, 周百隆 |
| Source Sets | National Digital Library of Theses and Dissertations in Taiwan |
| Language | zh-TW |
| Detected Language | English |
| Type | 學位論文 ; thesis |
| Format | 49 |
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