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Please use this identifier to cite or link to this item: https://digital.lib.ueh.edu.vn/handle/UEH/55301
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dc.contributor.authorTran Thi Hai Ly-
dc.contributor.otherDuong Kha-
dc.date.accessioned2017-09-14T11:02:29Z-
dc.date.available2017-09-14T11:02:29Z-
dc.date.issued2013-
dc.identifier.issn1859 -1124-
dc.identifier.urihttp://digital.lib.ueh.edu.vn/handle/UEH/55301-
dc.identifier.urihttp://jabes.ueh.edu.vn/Home/SearchArticle?article_Id=6af7da3f-19ee-449b-8d07-a470bdf55107-
dc.description.abstractThis study was conducted to find evidence of short-term underpricing of initial public offerings (IPOs) and factors that explain the level of underpricing based on IPO samples in the period between January 2005 and July 2012 in Vietnam. The authors found certain evidence to support the underpricing, with the underpricing rate set at 38% and 49%. Having bootstrapping regression model employed, the results showed that the two factors ? the exceeding purchase ratio and the starting price of the auctions ? negatively correlated as expected with underpricing rate while impact of market conditions appeared relatively weak. Other factors such as size, listing lateness, company age, state ownership after IPOs did not correlate with the underpricing levels in Vietnam-
dc.formatPortable Document Format (PDF)-
dc.publisherTrường Đại học Kinh tế Tp. Hồ Chí Minh-
dc.relation.ispartofJournal of Economic Development-
dc.relation.ispartofseriesJED, No. 217-
dc.subjectStock market-
dc.subjectShort term underpricing-
dc.subjectIPO-
dc.titleEvidence of underpricing of initial public offerings in Vietnam-
dc.typeJournal Article-
dc.relation.referenceAdjasi, C. K. D., K. A. Osei & E. U. Fiawoyife (2011), “Explaining Underpricing of IPOs in Frontier Markets: Evidence from the Nigeria Stock Exchange”, Research in International Business and Finance, 25(3), 255-265.-
dc.relation.referenceAyayi, A. G. (2011), “Underpricing and Long-term Performance of Auctioned IPOs: The Case of Vietnam”, International Research Journal of Finance and Economics, 61.-
dc.relation.referenceBiais, B., & A.M. Faugeron-Crouzet (2000), IPO Auctions: English, Dutch, ... French and Internet, Institut d'Économie Industrielle (IDEI), Toulouse.-
dc.relation.referenceBoudriga, A., S. Ben Slama & N. Boulila (2009), What Determines IPO Underpricing? Evidence from a Frontier Market, University Library of Munich, Germany.-
dc.relation.referenceBradley, D. J., J. S. Gonas, M. J. Highfield, & K. D. Roskelley. (2009), “An Examination of IPO Secondary Market Returns”, Journal of Corporate Finance 15(3), 316-330.-
dc.relation.referenceChambers, D. & E. Dimson (2009), “IPO Underpricing over the Very Long Run”, The Journal of Finance, 64(3), 1407-1443.-
dc.relation.referenceChi, J., & C. Padgett (2005), “The Performance and Long-run Characteristics of the Chinese IPO Market”, Pacific Economic Review, 10(4), 451-469.-
dc.relation.referenceIbbotson, R. G., J. L. Sindelar & J. R. Ritter (1988), “Initial Public Offerings”, Journal of Applied Corporate Finance, 1(2), 37-45.-
dc.relation.referenceKerins, F., K. Kutsuna & R. Smith (2007), “Why are IPOs Underpriced? Evidence from Japan's Hybrid Auction-Method Offerings”, Journal of Financial Economics, 85(3), 637-666.-
dc.relation.referenceRitter, J. R., & I. Welch (2002), “A Review of IPO Activity, Pricing, and Allocations”, The Journal of Finance, 57(4), 1795-1828.-
dc.relation.referenceSamarakoon, L. P. (2010), “The Short-Run Underpricing of Initial Public Offerings in the Sri Lankan Stock Market”, Journal of Multinational Financial Management, 20(4-5), 197-213.-
dc.relation.referenceSohail, K. M., & Raheman, A. (2009), “Determinants of Underpricing of IPOs Regarding Financial & Non-Financial Firms in Pakistan”, European Journal of Economic,Finance & Administrative Sciences.-
dc.relation.referenceTian, L. (2011), “Regulatory Underpricing: Determinants of Chinese Extreme IPO Returns”, Journal of Empirical Finance, 18(1), 78-90.-
dc.relation.referenceTrần Ngọc Thơ & Hồ Quốc Tuấn (2007), “Ứng dụng tài chính hành vi vào phân tích thực tiễn”, Phát triển kinh tế, 201, 2-5.-
dc.relation.referenceTrần Thị Hải Lý (2010) “Herd Behavior in Vietnamese Stock Market: Causes and Some Solutions”, Economic Development Review, 186.-
dc.identifier.doihttp://doi.org/10.24311/jed/2013.217.05-
dc.format.firstpage74-
dc.format.lastpage91-
item.fulltextOnly abstracts-
item.openairetypeJournal Article-
item.grantfulltextnone-
item.openairecristypehttp://purl.org/coar/resource_type/c_18cf-
item.cerifentitytypePublications-
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