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Liquidity levels and the long-run performance of initial public offerings in South Africa
Dissertation (MBA)--University of Pretoria, 2011.
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| Format: | Thesis |
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University of Pretoria
2013
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| _version_ | 1867613623212310528 |
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| access_status_str | Open Access |
| author2 | Thaver, Kuben |
| author_browse | Thaver, Kuben |
| author_facet | Thaver, Kuben |
| collection | Thesis |
| dc_rights_str_mv | © 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Dissertation (MBA)--University of Pretoria, 2011. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/25806 |
| institution | University of Pretoria (South Africa) |
| last_indexed | 2026-06-10T12:39:05.410Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2013 |
| publishDateRange | 2013 |
| publishDateSort | 2013 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/25806 Liquidity levels and the long-run performance of initial public offerings in South Africa Thaver, Kuben ichelp@gibs.co.za Chandran, Sangeeth UCTD Underperformance Ipo Liquidity levels Calendar time portfolio approach Dissertation (MBA)--University of Pretoria, 2011. This study investigated the impact of the levels of liquidity of Initial Public Offering (IPO) stocks on the long-run performance of IPOs over a five year period. In addition the study sought to investigate if the levels of liquidity of IPO stock were significantly higher than non-IPO stock. The methodology used was the calendar time portfolio approach based on the Fama-French regression equation. The study found that over a five year period IPOs did not underperform or over-perform the market. In addition the study found that the liquidity levels of IPOs were not significantly higher than non-IPOs. While the lower liquidity levels help explain the fact that the IPOs did not underperform the market, they do not indicate the existence of a liquidity risk premium on the Johannesburg Stock Exchange (JSE). Gordon Institute of Business Science (GIBS) unrestricted 2013-09-07T00:41:36Z 2012-09-19 2013-09-07T00:41:36Z 2012-03-08 2011 2012-06-24 Dissertation Chandran, S 2011, Liquidity levels and the long-run performance of initial public offerings in South Africa, MBA dissertation, University of Pretoria, Pretoria, viewed yymmdd < http://hdl.handle.net/2263/25806 > F12/4/638/zw http://hdl.handle.net/2263/25806 http://upetd.up.ac.za/thesis/available/etd-06242012-131758/ © 2011, University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD Underperformance Ipo Liquidity levels Calendar time portfolio approach Liquidity levels and the long-run performance of initial public offerings in South Africa |
| title | Liquidity levels and the long-run performance of initial public offerings in South Africa |
| title_full | Liquidity levels and the long-run performance of initial public offerings in South Africa |
| title_fullStr | Liquidity levels and the long-run performance of initial public offerings in South Africa |
| title_full_unstemmed | Liquidity levels and the long-run performance of initial public offerings in South Africa |
| title_short | Liquidity levels and the long-run performance of initial public offerings in South Africa |
| title_sort | liquidity levels and the long run performance of initial public offerings in south africa |
| topic | UCTD Underperformance Ipo Liquidity levels Calendar time portfolio approach |
| url | http://hdl.handle.net/2263/25806 http://upetd.up.ac.za/thesis/available/etd-06242012-131758/ |