The escalation of complexity and multidimensional (internal and external) factors bring companies to a position where risk management should be of main concern. Enterprise Risk Management (ERM) adoption and the extent of ERM implementation is seen as a guaranteeing element to increase the value...

We investigate the effects of individual investors' participation on after-market divergence of opinion (DOP) for 269 Malaysian fixed-price initial public offerings (IPOs). Our findings show that individual investor participation moderates the relationship between initial performance and...

Mispricing of initial public offerings (IPO) in finance literatures refers to the deviation of IPOs offer price from its aftermarket price. Miller (1977) argue that divergence of opinion provide alternative explanation for IPO mispricing where high divergence of investors' opinion (DOP) is...

Prior studies on IPOs suggest that the deviation of an IPO's offer price from its fair value is due to the over and under pricing phenomena. These studies use first trading day price and comparable firm's P/E ratio to address the issue of IPO mispricing in developed markets. There has been...