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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:English
English
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
https://etd.uum.edu.my/2594/
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spelling my.uum.etd.25942022-04-11T06:50:27Z https://etd.uum.edu.my/2594/ The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market Algebaly, Esam Aldin Mohamed Aly 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 NonPeerReviewed text en https://etd.uum.edu.my/2594/1/Esam_Aldin_Mohamed_Aly_Algebaly.pdf text en https://etd.uum.edu.my/2594/2/1.Esam_Aldin_Mohamed_Aly_Algebaly.pdf Algebaly, Esam Aldin Mohamed Aly (2011) The Determinants of Delisting Risk in the Egyptian Initial Public Offering Equity Market. PhD. thesis, Universiti Utara Malaysia.
institution Universiti Utara Malaysia
building UUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Utara Malaysia
content_source UUM Electronic Theses
url_provider http://etd.uum.edu.my/
language English
English
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
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
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
https://etd.uum.edu.my/2594/
_version_ 1731228113710350336
score 13.211869

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