Purpose: The purpose of this paper is to investigate the effects of Shariah-compliant status and the presence of information asymmetry on investors’ demand for initial public offerings (IPOs) in Malaysia. Design/methodology/approach: The data regarding 260 IPOs dated for a duration of...

A lock-up agreement ensures that major shareholders retain significant economic interest in the companies following the IPOs. Rationally, these insiders will not adhere to the lock-up agreement unless the benefits of doing so can more than offset the costs. Therefore, in an environment...

This paper investigates the influence of shareholders' retention on the performance of initial public offerings (IPOs) in Malaysia between 2001 and 2010. Based on a sample of 295 IPOs listed in Bursa Malaysia, we find that pre-IPO shareholders' ownership or retention averages 73% and has a...

This paper examines the variability in initial returns, IPO volumes, and market conditions of the IPO listed in Bursa Malaysia during the period from January 2000 to December 2010. The IPO volume is highly auto correlated at low lags and decreases during the high lags. Examining the...

A lock-up agreement ensures that major shareholders retain significant economic interest in the companies following the IPOs. Rationally, these insiders will not adhere to the lock-up agreement unless the benefits of doing so can more than offset the costs. Therefore, in an environment...

A lock-up agreement ensures that major shareholders retain significant economic interest in the companies following the IPOs. Rationally, these insiders will not adhere to the lock-up agreement unless the benefits of doing so can more than offset the costs. Therefore, in an environment...

This study examines the winner's curse phenomenon using Amihud's allocation rate (ALLOCTJ) which is the natural log of the reciprocal of investor demand. Using data set from 446 initial public offerings (IPOs) listed on Bursa Malaysia from January 2000 until December 2013, this study yields...

This paper examines the influence of institutional investors' participation on flipping activity of Malaysian IPOs. Measured as the percentage of trading volume on the first trading day against the total number of shares offered, flipping is the quickest way to gain huge profits from IPOs....

This paper attempts to investigate the influence of lockup provision and some control variables on the flipping activity of Malaysian IPO. Measured as the percentage of trading volume on the first trading day divided by the number of shares offered, flipping is the easiest way to make a quick...

This paper examines the moderating effect of information asymmetry on the relationship between parameters of lockup provision and flipping activity of Malaysian IPOs. While the main purpose of lockup provision is to promote commitment of major shareholders for the well-being of the IPO issuing...