The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market

The main objective of this thesis is to identify the determinants of delisting risk (comprises delisting rate and survival time) of the IPO companies that are listed on the Egyptian Exchange over the 1992-2009 period. This thesis consists of three specific objectives. The first two objectives are to...

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Main Author:	Algebaly, Esam Aldin Mohamed Aly
Format:	Thesis
Language:	eng eng
Published:	2011
Subjects:	HG Finance
Online Access:	https://etd.uum.edu.my/2594/1/Esam_Aldin_Mohamed_Aly_Algebaly.pdf https://etd.uum.edu.my/2594/2/1.Esam_Aldin_Mohamed_Aly_Algebaly.pdf
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id	my-uum-etd.2594
record_format	uketd_dc
spelling	my-uum-etd.25942022-04-11T06:50:27Z The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market 2011-02 Algebaly, Esam Aldin Mohamed Aly Ibrahim, Yusnidah Ahmad Zaluki, Nurwati Ashikkin College of Business (COB) College of Business HG Finance The main objective of this thesis is to identify the determinants of delisting risk (comprises delisting rate and survival time) of the IPO companies that are listed on the Egyptian Exchange over the 1992-2009 period. This thesis consists of three specific objectives. The first two objectives are to identify the determinants of delisting rate and survival time, respectively. The third objective is to analyze the influence of some new variables on delisting risk, namely firm type, institutional ownership, and listing variables. Logit and probit regression models are used in the delisting rate analysis, while Cox nonproportional hazards regression model is employed in the survival time analysis. It is found that firm size, liquidity, growth rate in assets, cash coverage, operating performance, offering size, IPO activity, initial return, institutional ownership, and insider ownership variables have significant negative relationships with delisting risk, while financial leverage has a significant positive influence on delisting risk. In addition, delisting risk is significantly lower in firms listed on the Official Schedule, and those listed before August 2002. This study thus confirms the significant role of firm, signaling, offering, and listing variables in discriminating delisted and survived firms through a more robust statistical analysis. 2011-02 Thesis https://etd.uum.edu.my/2594/ https://etd.uum.edu.my/2594/1/Esam_Aldin_Mohamed_Aly_Algebaly.pdf text eng public https://etd.uum.edu.my/2594/2/1.Esam_Aldin_Mohamed_Aly_Algebaly.pdf text eng public Ph.D. doctoral Universiti Utara Malaysia
institution	Universiti Utara Malaysia
collection	UUM ETD
language	eng eng
advisor	Ibrahim, Yusnidah Ahmad Zaluki, Nurwati Ashikkin
topic	HG Finance
spellingShingle	HG Finance Algebaly, Esam Aldin Mohamed Aly The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market
description	The main objective of this thesis is to identify the determinants of delisting risk (comprises delisting rate and survival time) of the IPO companies that are listed on the Egyptian Exchange over the 1992-2009 period. This thesis consists of three specific objectives. The first two objectives are to identify the determinants of delisting rate and survival time, respectively. The third objective is to analyze the influence of some new variables on delisting risk, namely firm type, institutional ownership, and listing variables. Logit and probit regression models are used in the delisting rate analysis, while Cox nonproportional hazards regression model is employed in the survival time analysis. It is found that firm size, liquidity, growth rate in assets, cash coverage, operating performance, offering size, IPO activity, initial return, institutional ownership, and insider ownership variables have significant negative relationships with delisting risk, while financial leverage has a significant positive influence on delisting risk. In addition, delisting risk is significantly lower in firms listed on the Official Schedule, and those listed before August 2002. This study thus confirms the significant role of firm, signaling, offering, and listing variables in discriminating delisted and survived firms through a more robust statistical analysis.
format	Thesis
qualification_name	Ph.D.
qualification_level	Doctorate
author	Algebaly, Esam Aldin Mohamed Aly
author_facet	Algebaly, Esam Aldin Mohamed Aly
author_sort	Algebaly, Esam Aldin Mohamed Aly
title	The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market
title_short	The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market
title_full	The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market
title_fullStr	The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market
title_full_unstemmed	The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market
title_sort	determinants of delisting risk in the egyptian initial public offering equity market
granting_institution	Universiti Utara Malaysia
granting_department	College of Business (COB)
publishDate	2011
url	https://etd.uum.edu.my/2594/1/Esam_Aldin_Mohamed_Aly_Algebaly.pdf https://etd.uum.edu.my/2594/2/1.Esam_Aldin_Mohamed_Aly_Algebaly.pdf
_version_	1747827383043358720

The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market

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