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The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia

Recent theories of initial public offering (IPO) underpricing depart from the traditional asymmetric information models. Two recent IPO underpricing models are Habib and Ljungqvist (2001) and Brav and Gompers (2003). The Malaysian IPO market, characterised by high incidence of secondary offerings...

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Main Author: Wan Hussin, Wan Nordin
Format: Article
Language:English
Published: Asian Academy of Management (AAM) 2005
Subjects:
HD28-70 Management. Industrial Management
Online Access:http://eprints.usm.my/35839/1/AAMJ_10-1-2.pdf
http://eprints.usm.my/35839/
http://web.usm.my/aamj/10.1.2005/AAMJ%2010-1-2.pdf
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spelling my.usm.eprints.35839 http://eprints.usm.my/35839/ The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia Wan Hussin, Wan Nordin HD28-70 Management. Industrial Management Recent theories of initial public offering (IPO) underpricing depart from the traditional asymmetric information models. Two recent IPO underpricing models are Habib and Ljungqvist (2001) and Brav and Gompers (2003). The Malaysian IPO market, characterised by high incidence of secondary offerings and IPO lockup commitments, provides a fertile ground to test the newer theories of IPO underpricing. Examining IPOs between August 1996 and June 2000 in Bursa Malaysia, the evidence lends support to the theoretical predictions that IPO underpricing is negatively related to owners' participation ratio and positively associated with the fraction of directors' shares which is subject to liquidity restrictions. Asian Academy of Management (AAM) 2005 Article PeerReviewed application/pdf en http://eprints.usm.my/35839/1/AAMJ_10-1-2.pdf Wan Hussin, Wan Nordin (2005) The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia. Asian Academy of Management Journal (AAMJ), 10 (1). pp. 1-18. ISSN 1394-2603 http://web.usm.my/aamj/10.1.2005/AAMJ%2010-1-2.pdf
institution Universiti Sains Malaysia
building Hamzah Sendut Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Sains Malaysia
content_source USM Institutional Repository
url_provider http://eprints.usm.my/
language English
topic HD28-70 Management. Industrial Management
spellingShingle HD28-70 Management. Industrial Management
Wan Hussin, Wan Nordin
The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia
description Recent theories of initial public offering (IPO) underpricing depart from the traditional asymmetric information models. Two recent IPO underpricing models are Habib and Ljungqvist (2001) and Brav and Gompers (2003). The Malaysian IPO market, characterised by high incidence of secondary offerings and IPO lockup commitments, provides a fertile ground to test the newer theories of IPO underpricing. Examining IPOs between August 1996 and June 2000 in Bursa Malaysia, the evidence lends support to the theoretical predictions that IPO underpricing is negatively related to owners' participation ratio and positively associated with the fraction of directors' shares which is subject to liquidity restrictions.
format Article
author Wan Hussin, Wan Nordin
author_facet Wan Hussin, Wan Nordin
author_sort Wan Hussin, Wan Nordin
title The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia
title_short The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia
title_full The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia
title_fullStr The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia
title_full_unstemmed The Effects Of Owners' Participation And Lockup On Ipo Underpricing In Malaysia
title_sort effects of owners' participation and lockup on ipo underpricing in malaysia
publisher Asian Academy of Management (AAM)
publishDate 2005
url http://eprints.usm.my/35839/1/AAMJ_10-1-2.pdf
http://eprints.usm.my/35839/
http://web.usm.my/aamj/10.1.2005/AAMJ%2010-1-2.pdf
_version_ 1643708611887628288
score 13.211869

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