DYNAMICS OF MONETARY POLICY IMPACT ON INITIAL PUBLIC OFFERING: INSIGHTS FROM THE PAKISTAN STOCK EXCHANGE

S. Hussain, Abdul Rasheed, Mahmoona Mahmood
{"title":"DYNAMICS OF MONETARY POLICY IMPACT ON INITIAL PUBLIC OFFERING: INSIGHTS FROM THE PAKISTAN STOCK EXCHANGE","authors":"S. Hussain, Abdul Rasheed, Mahmoona Mahmood","doi":"10.53664/jssd/02-02-2023-02-143-151","DOIUrl":null,"url":null,"abstract":"This study explores heterochthonous monetary shocks' effect on the initial public offering market, employing excessive-frequency identity approach. Saengchote and Sthienchoak (2020) databank include 190 SBP official statement between 2001 and 2020. Modifications in 3-months fed futures, which can be negatively associated with Standard and Poor 500 within thirty-min window (15-minutes earlier, 15-minutes later) immediate SBP official statements, are categorized as traditional shocks. Contractionary shocks within the traditional logic cause a drop in the initial public offering undertaking. Opposed to, contractionary shocks that deliver the influential financial facts generate an upward thrust in initial public offering task. The setting apart traditional monetary shocks from state financial institution statistics shocks permits an ironic evaluation of monetary policies affecting initial public offering market. This study has added two major points to literature as it shows that monetary policy has impartial role in determining initial public offering market, also research shows that informational effect of financial shocks is as essential such as traditional effect in upsetting the initial public offering goings-on.","PeriodicalId":10994,"journal":{"name":"December 2021","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2023-06-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"December 2021","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.53664/jssd/02-02-2023-02-143-151","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
引用次数: 0

Abstract

This study explores heterochthonous monetary shocks' effect on the initial public offering market, employing excessive-frequency identity approach. Saengchote and Sthienchoak (2020) databank include 190 SBP official statement between 2001 and 2020. Modifications in 3-months fed futures, which can be negatively associated with Standard and Poor 500 within thirty-min window (15-minutes earlier, 15-minutes later) immediate SBP official statements, are categorized as traditional shocks. Contractionary shocks within the traditional logic cause a drop in the initial public offering undertaking. Opposed to, contractionary shocks that deliver the influential financial facts generate an upward thrust in initial public offering task. The setting apart traditional monetary shocks from state financial institution statistics shocks permits an ironic evaluation of monetary policies affecting initial public offering market. This study has added two major points to literature as it shows that monetary policy has impartial role in determining initial public offering market, also research shows that informational effect of financial shocks is as essential such as traditional effect in upsetting the initial public offering goings-on.
货币政策对首次公开发行的动态影响:来自巴基斯坦证券交易所的见解
本研究采用过频同一性方法探讨异域货币冲击对首次公开发行市场的影响。Saengchote和Sthienchoak(2020)数据库包括2001年至2020年190份SBP官方声明。3个月期联邦储备银行期货的变动可以在美国央行官方声明发布后的30分钟窗口内(提前15分钟,后15分钟)与标准普尔500指数负相关,被归类为传统冲击。传统逻辑中的收缩冲击导致首次公开发行事业的下降。相反,提供有影响力的金融事实的收缩冲击会在首次公开发行(ipo)任务中产生向上的推动力。将传统货币冲击与国家金融机构统计冲击区分开来,可以对影响首次公开发行市场的货币政策进行具有讽刺意味的评估。本研究为文献增加了两个主要观点,即货币政策在决定首次公开发行市场方面具有公正的作用,同时研究表明,金融冲击的信息效应在扰乱首次公开发行进行方面与传统效应一样重要。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 求助全文
来源期刊
自引率
0.00%
发文量
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信