How the shipping firms have used the funds they raised from IPOs, in parallel with their short-run and long-run performance.

 
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2016 (EN)

How the shipping firms have used the funds they raised from IPOs, in parallel with their short-run and long-run performance.

Zogkoudis, Athanasios

This dissertation was written as part of the MSc in Management at the International Hellenic University. The aim of this dissertation study is to examine the purpose of going public for a number of shipping companies along with their short - run and long - ru n performance during the period 2000 - 2014 in 7 major Stock exchanges. On the first listing day the sample is undepriced at 0,19 %. In order to measure the long - run performance, buy - and - hold abnormal returns method (BHAR) is calculated. The empirical results indicate that the sample underperform after 6 months of listing. A number of factors are also tested about their level of significance for both short - and long - run performance. A multivariable regression is constructed for each case in order to check thes e factors’ influence in underpricing and abnormal returns respectively. The results illustrate that in the long - term, the initial underpricing at the first trading day and the gross proceeds are statistically significant

masterThesis

Underpricing
Initial public offering
Shipping--Finance
Shipping
Long-run performance
Going public (Securities)


English

2016-01-11T17:22:39Z
2016-02-01T01:00:25Z
2016-01-11


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