La sous-évaluation et la pertinence des méthodes d’évaluations à refléter la juste valeur des firmes lors des IPO "bourse d’Alger et de Tunis"
Other Title(s)
IPO underpricing and the relevance of valuation methods to reflect the fair value of firms "Algiers and Tunis stock exchange"
Joint Authors
Ibn Nabi, Hassan
Chinait, Sabah
Source
Revue Alafak des Études Économiques
Issue
Vol. 6, Issue 2 (31 Dec. 2021), pp.440-453, 14 p.
Publisher
University larbi tebssi Faculty of Economic Sciences Commerce and Management Sciences
Publication Date
2021-12-31
Country of Publication
Algeria
No. of Pages
14
Main Subjects
Topics
Abstract EN
This research aims to identify the existence of underpricing phenomenon during the (IPO), and to test the relevance of valuation methods to reflect the fair value of firms.
The analysis is conducted on a sample of 28 companies over the period 2000 to 2019.
Our results indicate the existence of an underpricing on the Tunis and Algiers stock exchange negatively correlated with the results of the valuation methods which, generally, overvalue firms.
This reinforces the hypothesis that underpricing is used to ensure the success of IPO.
However, the analysis supports the critics suspecting the methods to depend on manipulable and arbitrary parameters to emit a desired offer price, especially with the application of weightings between several methods.
American Psychological Association (APA)
Ibn Nabi, Hassan& Chinait, Sabah. 2021. La sous-évaluation et la pertinence des méthodes d’évaluations à refléter la juste valeur des firmes lors des IPO "bourse d’Alger et de Tunis". Revue Alafak des Études Économiques،Vol. 6, no. 2, pp.440-453.
https://search.emarefa.net/detail/BIM-1305387
Modern Language Association (MLA)
Ibn Nabi, Hassan& Chinait, Sabah. La sous-évaluation et la pertinence des méthodes d’évaluations à refléter la juste valeur des firmes lors des IPO "bourse d’Alger et de Tunis". Revue Alafak des Études Économiques Vol. 6, no. 2 (2021), pp.440-453.
https://search.emarefa.net/detail/BIM-1305387
American Medical Association (AMA)
Ibn Nabi, Hassan& Chinait, Sabah. La sous-évaluation et la pertinence des méthodes d’évaluations à refléter la juste valeur des firmes lors des IPO "bourse d’Alger et de Tunis". Revue Alafak des Études Économiques. 2021. Vol. 6, no. 2, pp.440-453.
https://search.emarefa.net/detail/BIM-1305387
Data Type
Journal Articles
Language
French
Notes
-
Record ID
BIM-1305387