The First Day Returns on Initial Public Offerings in Stock Exchange of Thailand

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Published: Apr 19, 2019
Keywords:
Initial Public Offering The First Day Return of Initial Public Offering Macroeconomics Factors

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Karnjana Songwathana
Bangkok University
Sairung Keawsang

Abstract

This research aims to study factors that influence the first day return of Initial Public Offering (IPO) in Stock Exchange of Thailand (SET). The study uses IPO data from 2009 to 2016 with a total of 101 stocks. Regression analysis examines factors influencing the first day return of IPO. The results shows that factors that influence the first day return of IPO consisted of initial price, offer size, the age of company, and SET Index of the first day. Meanwhile, interest rate, foreign direct investment index and manufacturing index have no significant impact on the first day return of IPO.

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How to Cite
Songwathana, K., & Keawsang, S. (2019). The First Day Returns on Initial Public Offerings in Stock Exchange of Thailand. Parichart Journal, 32(1), 273–290. Retrieved from https://so05.tci-thaijo.org/index.php/parichartjournal/article/view/76983
Issue
Vol. 32 No. 1 (2019): January - June 2019
Section
Research Articles
Author Biography

Karnjana Songwathana, Bangkok University

Department of Economics, Bangkok University

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