期刊名称：International Review of Management and Business Research
印刷版ISSN：2307-5953
电子版ISSN：2306-9007
出版年度：2015
卷号：4
期号：1Part 3
页码：336-342
出版社：Academy of IRMBR
摘要：The study provides empirical analysis of the initial and after-market short-run IPO returns over the period 1990-2009. The results show that firms on the Ghanaian stock market on average are under-priced on the initial trading day by 8.43%. The regression analysis also reveals that age, cost of debt, hot market, leverage and industry are the main determinant of under-pricing on the Ghanaian stock market.
