| Summary: | 碩士 === 開南大學 === 商學院碩士班 === 107 === This study includes all TEJ database electronics firms that went public from Emerging Stock onto TSEC or OTC before December 31, 2017 as its population. Since January 2, 2022, Emerging Stock has been serving as a major financing channel and firm disclosure platform for companies in the growing stage. This study focuses on EPS, which is one of the prevalent publicly available information items for the investors.
Specifically, for the 442 companies with four years financial data both before and after listing on TSEC or OTC. This study calculates the five-years (including the listed year) annual mean EPS and EPS trend (the slope of Least Squared Method) of each company before and after listing. All the calculation results are analyzed by quintile, We provide
(1) the distribution analysis and scatter plot of annual mean EPS before and after the IPO by quintile as well as the cross-classification analysis of the annual mean EPS before and after IPO.
(2) the distribution analysis and scatter plot of EPS trends before and after the IPO by quintile as well as the cross-classification analysis before and after the IPO.
(3) the cross-classification analysis of annual mean EPS and EPS trends before and after the IPO by quintile.
(4) the identification of the out-performing stocks before and after the IPO.
The results of this study show that most of observations experienced EPS declines after the IPO. Furthermore, the greater the pre-IPO EPS, the more significant the declines after listing. 73.94% of the stocks that had been classified as the outperforming ones before IPO under-performed after their listing on TSEC or OTC.
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