business corporate finance

1. Corporate finance
final project
Huda durrani

2. Content
 Topic
 Journal
 Variable
 Methodology
 Population
 Sample size
 Instrument
 Data analysis tools
 Result
 Decision
 Suggestion for future

3. Topic
 Effect of institutional ownership and market
factors on IPO’s under-pricing in Pakistan
 By Muhammad usman
 Muzammil Hussain
 Faiq Mahmood
 Humera shahid

4. journal
International review of social sciences
Vol.2 issue.11
November 2014

5. variables
 Institutional ownership
 industrial ownership
 financial ownership
 ex-anti uncertainty
 Market factors
 over-subscription
 market sentiments
 under-writer reputation

6. methodology
 Under-pricing=ß1+ß2(financial
ownership)+ß3(industrial ownership)+ß4(ex-anti
uncertainty)+ß5(over subscription)+ß6(market
sentiment)+ß7(under-writer reputation)+𝜇

7. Population size
It includes 56 firms

8. Sample size
Includes 55 firms are listed during
the period of study
Out of which 28 are non-financial
while 27 are financial firms

9. Instrumentation
They collect data from Karachi stock
exchange website so it is a
observational technique to collect
data

10. Data analysis tools
 Statistical tool
 Multiple regression

11. Results
 INSTITUTIONAL OWNERSHIP
 INDUSTRIAL OWNERSHIP
 FINANCIAL OWNERSHIP ARE NEGATIVE RELATION WITH UNDER-PRICING
 MARKET FACTORS
 Over-subscription
 Market sentimets
 While ex-anti uncertainty and under-writer reputation are positively
associated

12. Decision
 Through this study researcher take decision
that there is no effect or impact of under-
writer reputation and ex-anti uncertainty

13. Further for future
In future the losses of under-pricing
ipo may be minimize by taking control
of these two factors