Underwriter reputation and IPO valuation in an emerging market: evidence from Malaysia by Chui, Zi Ong, Mohd Rashid, Rasidah, Taufil Mohd, Kamarun Nisham

“…Purpose – The purpose of this study is to examine the influence of underwriter reputation on the valuation of Malaysian initial public offerings (IPOs). …”
Get full text

Leverage and IPO pricing: Evidence from Malaysia by Ong, Chui Zi, Mohd Rashid, Rasidah, Taufil Mohd, Kamarun Nisham

“…Purpose – The purpose of this study is to examine the influence of underwriter reputation on the valuation of Malaysian initial public offerings (IPOs). …”
Get full text

The influence of information asymmetry on IPO lock-up provisions: Evidence from emerging markets by Mohd Rashid, Rasidah, Abdul Rahim, Ruzita, Che-Yahya, Norliza

“…Most of the major shareholders, known as promoters of the firms, are subjected to lock-up ratio for a certain period,following an IPO listing,Interestingly the lock-up ratios among firms vary, suggesting that it serves as a signaling tool to minimize potential conflicts between insiders and uninformed investors.This paper investigates the influence of two main factors, that is,underwriter reputation and market capitalization on lock-up ratios.Several interesting results are documented.The regression results show that market capitalization, a proxy for firm size (large firms), tend to have a higher lock-up ratio while the effects of underwriters reputation are weak.The findings, using the interaction of market capitalization and underwriter reputation,indicate that large firms with quality underwriters have lower information asymmetry and risk,and therefore are associated with bigger lock-up ratios.…”
Get full text

Does prospectus information matter in IPO pricing? by Mohd Rashid, Rasidah, Masih, Mansur, Abdul Rahim, Ruzita, Che Yahya, Norliza

“…Finally, the involvement of institutional investors and higher underwriter ranking could be used by firms to disregard information asymmetry, and therefore, the issuer might have to discount the IPO offer price. …”
Get full text

Do institutional investors drive the IPO valuation? by Chui, Zi Ong, Mohd Rashid, Rasidah, Taufil Mohd, Kamarun Nisham

“…The results have implications for underwriters and issuers in signalling firms’ qualities through incorporating book-building in IPOs and allocating a higher number of shares to institutional investors.…”
Get full text