The Performance and Signalling Process of Initial Public Offers in Malaysia: 1980-1996
Malaysian IPOs are, on average, substantially underpriced compared to underpricing in other emerging and developed market. The findings of this study suggest that this average abnormal return on the first trading day is 135 percent, after which the returns decline slightly in the first week and g...
| Main Authors: | , |
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| Format: | Article |
| Language: | English English |
| Published: |
Universiti Putra Malaysia Press
1998
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| Online Access: | http://psasir.upm.edu.my/id/eprint/3216/1/The_Performance_and_Signalling_Process_of_Initial.pdf |
| _version_ | 1825921615422029824 |
|---|---|
| author | Md. Nassir, Annuar Mohamad, Shamsher |
| author_facet | Md. Nassir, Annuar Mohamad, Shamsher |
| author_sort | Md. Nassir, Annuar |
| collection | UPM |
| description | Malaysian IPOs are, on average, substantially underpriced compared to underpricing in other
emerging and developed market. The findings of this study suggest that this average abnormal
return on the first trading day is 135 percent, after which the returns decline slightly in the first
week and gradually increase thereafter. A test on possible signalling attributes of new issues to
potential investors reveal that of all the suggested determinants, the ex-ante risk factor seems to
explain the level of underpricing. |
| first_indexed | 2024-03-06T07:00:29Z |
| format | Article |
| id | upm.eprints-3216 |
| institution | Universiti Putra Malaysia |
| language | English English |
| last_indexed | 2024-03-06T07:00:29Z |
| publishDate | 1998 |
| publisher | Universiti Putra Malaysia Press |
| record_format | dspace |
| spelling | upm.eprints-32162013-05-27T07:06:31Z http://psasir.upm.edu.my/id/eprint/3216/ The Performance and Signalling Process of Initial Public Offers in Malaysia: 1980-1996 Md. Nassir, Annuar Mohamad, Shamsher Malaysian IPOs are, on average, substantially underpriced compared to underpricing in other emerging and developed market. The findings of this study suggest that this average abnormal return on the first trading day is 135 percent, after which the returns decline slightly in the first week and gradually increase thereafter. A test on possible signalling attributes of new issues to potential investors reveal that of all the suggested determinants, the ex-ante risk factor seems to explain the level of underpricing. Universiti Putra Malaysia Press 1998 Article PeerReviewed application/pdf en http://psasir.upm.edu.my/id/eprint/3216/1/The_Performance_and_Signalling_Process_of_Initial.pdf Md. Nassir, Annuar and Mohamad, Shamsher (1998) The Performance and Signalling Process of Initial Public Offers in Malaysia: 1980-1996. Pertanika Journal of Social Sciences & Humanities, 6 (2). pp. 71-79. ISSN 0128-7702 English |
| spellingShingle | Md. Nassir, Annuar Mohamad, Shamsher The Performance and Signalling Process of Initial Public Offers in Malaysia: 1980-1996 |
| title | The Performance and Signalling Process of Initial
Public Offers in Malaysia: 1980-1996 |
| title_full | The Performance and Signalling Process of Initial
Public Offers in Malaysia: 1980-1996 |
| title_fullStr | The Performance and Signalling Process of Initial
Public Offers in Malaysia: 1980-1996 |
| title_full_unstemmed | The Performance and Signalling Process of Initial
Public Offers in Malaysia: 1980-1996 |
| title_short | The Performance and Signalling Process of Initial
Public Offers in Malaysia: 1980-1996 |
| title_sort | performance and signalling process of initial public offers in malaysia 1980 1996 |
| url | http://psasir.upm.edu.my/id/eprint/3216/1/The_Performance_and_Signalling_Process_of_Initial.pdf |
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