The paper provides general evidence of income-increasing earnings management in Malaysian IPOs but this occurs primarily during a period of severe economic stress (the East Asian crisis). The requirement to provide a profit guarantee appears to reduce rather than encourage earnings management....

This paper investigates the long run share price performance of 454 Malaysian IPOs during the period 1990 to 2000. In contrast with developed markets, significant overperformance is found for equally-weighted event time CARs and buy-and-hold returns using two market benchmarks, though not for...

The primary aim of the study is to investigate what Malaysian IPO issuers indicate as the intended use of IPO proceeds. This is achieved through a manual content analysis of 161 IPO prospectuses during the period of 2005-2013. The results indicate that two major intended uses of IPO proceeds are...

Purpose – The purpose of this paper is to examine whether the differences in men and women, such as risk aversion in decision making, can influence the amount of capital that the board of directors can allocate for investment opportunities.Design/methodology/approach – This study sampled 212...

This paper aims to extend the research on the Malaysian IPO management earnings forecasts by examining the impact of corporate governance mechanisms and earnings forecasts accuracy. It seeks to investigate whether effective corporate governance is a credible signal of improving the quality of...

Studies have shown that initial public offerings (IPOs) issuers’ intended use of IPO proceeds could provide insights into the motives for IPOs, however, whether or not issuers deviate from the stated use as disclosed in the prospectus remains unexplored. Therefore, this study used a sample of...

Purpose: This study aims to investigate the effects of the intended use of initial public offerings (IPO) proceeds that is disclosed in the prospectus on IPO initial returns.Design/methodology/approach: A sample of IPOs listed on Bursa Malaysia from 2005 to 2015 is used. The intended use of IPO...

This study provides evidence on both the short-run and long-run investment performance of Malaysian initial public offering (IPO) companies that are listed on the MESDAQ Market. The factors that influence the performance are also investigated. In line with past Malaysian studies, the results of...