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DC Field | Value | Language |
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dc.contributor.author | Hewage, J.K. | - |
dc.contributor.author | Fernando, C.S.P.K. | - |
dc.date.accessioned | 2019-02-15T03:58:11Z | - |
dc.date.available | 2019-02-15T03:58:11Z | - |
dc.date.issued | 2018 | - |
dc.identifier.citation | Hewage, J.K. and Fernando, C.S.P.K. (2018). Long Run Performance and Impact of War on Risk-Return Characteristics of Initial Public Offerings in an Emerging Market: Evidence from Colombo Stock Exchange. 9th International Conference on Business and Information (ICBI-2018), Department of Management Studies and Toc H Institute of Science and Technology, India, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka.p.01 | en_US |
dc.identifier.uri | http://repository.kln.ac.lk/handle/123456789/19896 | - |
dc.description.abstract | This study analyses the long-run performance of 34 Sri Lankan Initial Public Offerings listed during 2000 – 2014 and focuses on the changes in risk-return characteristic since there is only handful of prior investigates regarding the impact of civil war on IPO risk-return changes relatively to developed markets. The first objective is to provide evidence on long-run underperformance or over performance. Hence, IPOs underperformed the benchmark in the long-run subject to Event-time Approach. The second objective is detecting the changes in the performance of IPOs relatively to Market-adjusted-Average Cumulative Abnormal Returns and Buy-and-Hold Abnormal Returns. Thirdly, the analysis discusses how risk-return characteristics differ between two IPO samples. Post-war IPOs appear to be less risky while pre-war IPOs revealing higher risky and subject to non-systematic risk in the long-run, yet with same magnitude of returns. Authors believe that investors can use this information to identify profitable strategies to overcome long-run underperformance | en_US |
dc.language.iso | en | en_US |
dc.publisher | 9th International Conference on Business and Information (ICBI-2018), Department of Management Studies and Toc H Institute of Science and Technology, India, Faculty of Commerce and Management Studies, University of Kelaniya, Sri Lanka | en_US |
dc.subject | Initial Public Offerings | en_US |
dc.subject | Long-run performance | en_US |
dc.subject | Cumulative abnormal returns | en_US |
dc.subject | Buy-and-hold abnormal returns | en_US |
dc.subject | Risk-return characteristics | en_US |
dc.title | Long-Run Performance and Impact of War on Risk-Return Characteristics of Initial Public Offerings in an Emerging Market: Evidence from Colombo Stock Exchange | en_US |
dc.type | Article | en_US |
Appears in Collections: | ICBI 2018 |
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