Osamwonyi, Huero Osad and Emeni, F. K. (2008) Determinants of the Post-Performance of Initial Public Offers in the Nigerian Banking Sector. Nigerian Journal of Business, 4 (1). pp. 40-46.
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Abstract
In this study we propose that the post-performance of IPOs in the Nigerian banking sector is a function of pre-IPO factors common in literature - that is, age, size and pre-tax profit.. In support of this proposition, we provide empirical evidence through the OLS estimates of the relationship between the post share price performance of the bank after the IPO and Pre-IPO factors. The analysis shows that although the factors as a whole explain 60% of the variation in performance, none could be used for predicting as they were all surprisingly not significant. This is inconsistent with the accepted position in literature, indicating therefore that there must be other important variables for the Nigerian banking sector. Further research is recommended to investigate other variables including herd instinct and paucity of securities in the capital market.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > HF Commerce > HF5601 Accounting H Social Sciences > HG Finance |
| Divisions: | Faculty of Law, Arts and Social Sciences > School of Management |
| Depositing User: | Mrs Patricia Nwokealisi |
| Date Deposited: | 23 Apr 2015 11:02 |
| Last Modified: | 06 May 2015 11:30 |
| URI: | http://eprints.covenantuniversity.edu.ng/id/eprint/5094 |
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