Armed with only the prospectus, can a retail investor pick a good IPO?
Lai, Kian Boon
Yap, Tuck Hong
Teo, Wee Liang
Date of Issue2004
College of Business (Nanyang Business School)
This study investigates whether four financial ratios, namely ROE, ROA, NPM and P/E ratios, derived from information in the prospectus issued by IPO firms have any predictability on returns on the first day and returns for various holding periods.
Final Year Project (FYP)
Nanyang Technological University