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The impacts of initial public offerings on the Casablanca stock exchange secondary market
مقدم أطروحة جامعية
مشرف أطروحة جامعية
الجامعة
جامعة الأخوين
الكلية
كلية إدارة الأعمال
دولة الجامعة
المغرب
الدرجة العلمية
ماجستير
تاريخ الدرجة العلمية
2008
الملخص الإنجليزي
This paper studies the impacts of initial public offerings on the Casablanca Stock Exchange secondary market.
It examines both the reaction of the whole market and its underlying sectors around the IPO announcement period in terms of returns and volume of transactions.
The results show that on 94% of the IPO announcements, the market returns react negatively.
50% of IPO announcements lead to the decrease of the market overall volume of transactions.
However, these movements are not statistically significant as it can be shown through the relatively low rejection rate of the stated null hypothesis.
Nevertheless, the concept of funds mobilization is not denied.
Also, tests performed on sectors did not reveal and display a clear pattern of their behavior during the period surrounding the IPO announcement.
Given these conditions, we cannot build a reliable general stock allocation model.
The results demonstrate that investors and commentators perceptions and thoughts about the market performance during initial public offerings periods are wrong.
However, it was found that the Casablanca Stock Exchange had enough power to absorb the volumes brought by the newly issued stock and not be heavily affected by it.
The paper provides a detailed description about the returns and transaction volumes movements during each IPO period for the market and its underlying sectors.
التخصصات الرئيسية
عدد الصفحات
39
قائمة المحتويات
Table of contents.
Abstract.
Chapter One : Background.
Chapter Two : Objective.
Chapter Three : Literature review.
Chapter Four : Methodology.
Chapter Five : Results.
Chapter Six : Interpretation of the results and conclusion.
References.
نمط استشهاد جمعية علماء النفس الأمريكية (APA)
Fahd, Bashir al-Buhali. (2008). The impacts of initial public offerings on the Casablanca stock exchange secondary market. (Master's theses Theses and Dissertations Master). Al Akhawayn University, Morocco
https://search.emarefa.net/detail/BIM-629155
نمط استشهاد الجمعية الأمريكية للغات الحديثة (MLA)
Fahd, Bashir al-Buhali. The impacts of initial public offerings on the Casablanca stock exchange secondary market. (Master's theses Theses and Dissertations Master). Al Akhawayn University. (2008).
https://search.emarefa.net/detail/BIM-629155
نمط استشهاد الجمعية الطبية الأمريكية (AMA)
Fahd, Bashir al-Buhali. (2008). The impacts of initial public offerings on the Casablanca stock exchange secondary market. (Master's theses Theses and Dissertations Master). Al Akhawayn University, Morocco
https://search.emarefa.net/detail/BIM-629155
لغة النص
الإنجليزية
نوع البيانات
رسائل جامعية
رقم السجل
BIM-629155
قاعدة معامل التأثير والاستشهادات المرجعية العربي "ارسيف Arcif"
أضخم قاعدة بيانات عربية للاستشهادات المرجعية للمجلات العلمية المحكمة الصادرة في العالم العربي
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تقوم هذه الخدمة بالتحقق من التشابه أو الانتحال في الأبحاث والمقالات العلمية والأطروحات الجامعية والكتب والأبحاث باللغة العربية، وتحديد درجة التشابه أو أصالة الأعمال البحثية وحماية ملكيتها الفكرية. تعرف اكثر
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