• ISSN: 2010-023X (Print)
    • Abbreviated Title: Int. J. Trade, Economics and Financ.
    • Frequency: Quaterly
    • DOI: 10.18178/IJTEF
    • Editor-in-Chief: Prof.Tung-Zong (Donald) Chang
    • Managing Editor: Ms. Shira. W. Lu
    • Abstracting/ Indexing:  Crossref, Electronic Journals Library , EBSCO
    • E-mail: ijtef.editorial.office@gmail.com
HOME > Archive > 2015 > Volume 6 Number 2 (Apr. 2015) >
IJTEF 2015 Vol.6(2): 106-111 ISSN: 2010-023X
DOI: 10.7763/IJTEF.2015.V6.452

Short Term IPO Returns in Stock Exchange of Thailand: The Study in 2003-2013

Marisa Laokulrach

Abstract—This study examines the short term performance of initial public offering (IPO) in capital market of Thailand from 2003-2013. The daily price data is used in this study to identify the short term returns of IPO of the first trading day until the day that abnormal return cannot be earned. The results confirm the abnormal returns of the first trading day of IPO and also identify that their outperformance returns remain until day 246 after the market. IPO of four industries which are financial, service, resources, and technology outperform the market, while the other four industries which are agro and food, consumer products, industrials, and property and construction do not provide significant abnormal returns.

Index Terms—Abnormal returns, first trading day return, IPO, stock exchange of Thailand (SET).

Marisa Laokulrach is with the Finance and Banking Department, Martin de Tours School of Management and Economics, Assumption University, Thailand (e-mail:marisalkl@au.edu).

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Cite: Marisa Laokulrach, "Short Term IPO Returns in Stock Exchange of Thailand: The Study in 2003-2013," International Journal of Trade, Economics and Finance vol.6, no.2, pp. 106-111, 2015.

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