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Financial Innovation

Table 4 Mean Differences between Private and Privatizing IPOs in the Long Run

From: Performance and capital structure of IPOs in Pakistan from 2000 to 2015

Period

BHR%

BHAR%

 

Issues

KSE

Mean

1 year

2.05

(0.95)

5.92

(0.58)

−3.88

(0.91)

2 year

62.93

(0.11)

10.47

(0.65)

52.46

(0.12)

3 year

84.52

(0.11)

11.21

(0.73)

73.37

(0.21)

4 year

111.68

(0.07)

−3.70

(0.93)

115.38

(0.29)

5 year

142.94**

(0.04)

−56.75**

(0.04)

199.69

(0.35)

  1. Note: The figures in parenthesis are p-values to check the significance of mean diffence. The ***, **, * indicates the significance at 1%, 5% and 10% respectively
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