The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance

This paper presents the levels of underpricing for new issues in Malaysia over a more recent period, 2000- 2009 and the factors affecting the short run and the long run performance. The international evidence unanimously suggests that IPOs generate positive initial returns. However, a number of to...

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Main Author:	Chang, Tze Kuch.
Format:	Thesis
Language:	English English
Published:	2016
Subjects:	H Social Sciences (General) HD61 Risk Management
Online Access:	http://ir.unimas.my/id/eprint/20931/2/The%20Malaysian%20initial%20public%20fulltext.pdf http://ir.unimas.my/id/eprint/20931/3/Chang%20Tze%20Kuch%20ft.pdf
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id	my-unimas-ir.20931
record_format	uketd_dc
spelling	my-unimas-ir.209312023-04-26T08:26:54Z The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance 2016 Chang, Tze Kuch. H Social Sciences (General) HD Industries. Land use. Labor HD61 Risk Management This paper presents the levels of underpricing for new issues in Malaysia over a more recent period, 2000- 2009 and the factors affecting the short run and the long run performance. The international evidence unanimously suggests that IPOs generate positive initial returns. However, a number of topics are still controversial, particularly the nature of the long run performance of IPOs companies. This paper aims to study the short run returns and long run stock price performance of Malaysian IPO. We use regression analysis to test the relationship between total underpricing, and the six factors that expected to have an effect on the IPOs return and examining the factors associated with short run return and long run IPO price performance. The final sample in this paper is 343 new listing companies in Malaysia between 2000- 2009. However in long run, we found that using the BHAR method to measure the long run share price performance, the Malaysian IPOs companies underperformed in the market in the first year of going public, with BHAR of -1.77 percent. However, in the second and third year after going public, these companies outperformed in the market with a BHAR of 4.79 percent and 40.83 percent, respectively. unimas 2016 Thesis http://ir.unimas.my/id/eprint/20931/ http://ir.unimas.my/id/eprint/20931/2/The%20Malaysian%20initial%20public%20fulltext.pdf text en validuser http://ir.unimas.my/id/eprint/20931/3/Chang%20Tze%20Kuch%20ft.pdf text en validuser masters UNIMAS
institution	Universiti Malaysia Sarawak
collection	UNIMAS Institutional Repository
language	English English
topic	H Social Sciences (General) H Social Sciences (General) HD61 Risk Management
spellingShingle	H Social Sciences (General) H Social Sciences (General) HD61 Risk Management Chang, Tze Kuch. The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance
description	This paper presents the levels of underpricing for new issues in Malaysia over a more recent period, 2000- 2009 and the factors affecting the short run and the long run performance. The international evidence unanimously suggests that IPOs generate positive initial returns. However, a number of topics are still controversial, particularly the nature of the long run performance of IPOs companies. This paper aims to study the short run returns and long run stock price performance of Malaysian IPO. We use regression analysis to test the relationship between total underpricing, and the six factors that expected to have an effect on the IPOs return and examining the factors associated with short run return and long run IPO price performance. The final sample in this paper is 343 new listing companies in Malaysia between 2000- 2009. However in long run, we found that using the BHAR method to measure the long run share price performance, the Malaysian IPOs companies underperformed in the market in the first year of going public, with BHAR of -1.77 percent. However, in the second and third year after going public, these companies outperformed in the market with a BHAR of 4.79 percent and 40.83 percent, respectively.
format	Thesis
qualification_level	Master's degree
author	Chang, Tze Kuch.
author_facet	Chang, Tze Kuch.
author_sort	Chang, Tze Kuch.
title	The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance
title_short	The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance
title_full	The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance
title_fullStr	The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance
title_full_unstemmed	The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance
title_sort	malaysian initial public offerings (ipos) : factors affecting the short run and the long run performance
granting_institution	UNIMAS
publishDate	2016
url	http://ir.unimas.my/id/eprint/20931/2/The%20Malaysian%20initial%20public%20fulltext.pdf http://ir.unimas.my/id/eprint/20931/3/Chang%20Tze%20Kuch%20ft.pdf
_version_	1783728208172023808

The Malaysian initial public offerings (IPOs) : Factors affecting the short run and the long run performance

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