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10670/1.mu1d4m

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Does the proportion of tangible assets affect the stock market performance of IPO on the Swiss market?
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Abstract

this submission is made in the context of the Bachelor HEG in the banking and finance business economy. Its purpose is to study the stock market performance of companies entering the Swiss IPS market. The analysis carried out in this study will reveal whether the Swiss market behaves like many developed country markets in terms of short-term and long-term yields. As a first step, a gross analysis of short-term performance will be carried out, without comparing it with a reference market. This performance will then be adjusted to a benchmark: the SPI and the SPI extra. The same comparison with a reference market will be made for long-term performance. The last important aspect of the work is the study of the asset structure of enterprises. The share of tangible assets will be studied for all companies in the IPO sample. The question to which I shall answer is that question: Does the proportion of tangible assets affect the stock market performance of IPO on the Swiss market? Of course, all results will be statistically tested to know their validities and meanings. This study has confirmed widespread phenomena in other markets, but so far little has been studied in the Swiss market: yes, there is indeed underpricing the first quotation but also a negative performance, on average after 3 years of quotation. These conclusions apply regardless of the measure or benchmark used. In addition, this study has proven that a certain level of intangible in the asset structure is good for a company’s stock market performance.

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