IPO Research in Malaysia: A Review of Under-Pricing Phenomenon
This paper examines the current status of research regarding under-pricing in the Malaysian IPOs. We have divided the review of past studies into the following categories: investor information, the choice of underwriter, ownership structure, share lock-up period, supply of IPOs, mechanism for pricin...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Universiti Utara Malaysia
2017
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| Online Access: | https://repo.uum.edu.my/id/eprint/24961/1/IJBF%2013%20%201%20%202017%2095-118.pdf |
| _version_ | 1803628841445359616 |
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| author | Albada, Ali Yong, Othman |
| author_facet | Albada, Ali Yong, Othman |
| author_sort | Albada, Ali |
| collection | UUM |
| description | This paper examines the current status of research regarding under-pricing in the Malaysian IPOs. We have divided the review of past studies into the following categories: investor information, the choice of underwriter, ownership structure, share lock-up period, supply of IPOs, mechanism for pricing IPOs, institutional investor involvement, and board structure. We have shown that there is a noticeable decline in initial return over time, perhaps due to the strengthening of the regulatory environment and the ability of investment bankers to adequately manage the listing process of new issues. Furthermore, based on the review of past studies, we have managed to pinpoint significant factors that influenced the initial return in the Malaysian IPO market. Finally, we also provide suggestions for future research. |
| first_indexed | 2024-07-04T06:28:22Z |
| format | Article |
| id | uum-24961 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:28:22Z |
| publishDate | 2017 |
| publisher | Universiti Utara Malaysia |
| record_format | dspace |
| spelling | uum-249612018-10-15T02:38:23Z https://repo.uum.edu.my/id/eprint/24961/ IPO Research in Malaysia: A Review of Under-Pricing Phenomenon Albada, Ali Yong, Othman HG Finance This paper examines the current status of research regarding under-pricing in the Malaysian IPOs. We have divided the review of past studies into the following categories: investor information, the choice of underwriter, ownership structure, share lock-up period, supply of IPOs, mechanism for pricing IPOs, institutional investor involvement, and board structure. We have shown that there is a noticeable decline in initial return over time, perhaps due to the strengthening of the regulatory environment and the ability of investment bankers to adequately manage the listing process of new issues. Furthermore, based on the review of past studies, we have managed to pinpoint significant factors that influenced the initial return in the Malaysian IPO market. Finally, we also provide suggestions for future research. Universiti Utara Malaysia 2017 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/24961/1/IJBF%2013%20%201%20%202017%2095-118.pdf Albada, Ali and Yong, Othman (2017) IPO Research in Malaysia: A Review of Under-Pricing Phenomenon. The International Journal of Banking and Finance, 13 (1). pp. 95-118. ISSN 1617-722 http://ijbf.uum.edu.my/index.php/latest-ijbf-issue |
| spellingShingle | HG Finance Albada, Ali Yong, Othman IPO Research in Malaysia: A Review of Under-Pricing Phenomenon |
| title | IPO Research in Malaysia: A Review of Under-Pricing Phenomenon |
| title_full | IPO Research in Malaysia: A Review of Under-Pricing Phenomenon |
| title_fullStr | IPO Research in Malaysia: A Review of Under-Pricing Phenomenon |
| title_full_unstemmed | IPO Research in Malaysia: A Review of Under-Pricing Phenomenon |
| title_short | IPO Research in Malaysia: A Review of Under-Pricing Phenomenon |
| title_sort | ipo research in malaysia a review of under pricing phenomenon |
| topic | HG Finance |
| url | https://repo.uum.edu.my/id/eprint/24961/1/IJBF%2013%20%201%20%202017%2095-118.pdf |
| work_keys_str_mv | AT albadaali iporesearchinmalaysiaareviewofunderpricingphenomenon AT yongothman iporesearchinmalaysiaareviewofunderpricingphenomenon |