Albada, Ali and Yong, Othman (2017) IPO Research in Malaysia: A Review of Under-Pricing Phenomenon. The International Journal of Banking and Finance, 13 (1). pp. 95-118. ISSN 1617-722

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Abstract

This paper examines the current status of research regarding under-pricing in the Malaysian IPOs. We have divided the review of past studies into the following categories: investor information, the choice of underwriter, ownership structure, share lock-up period, supply of IPOs, mechanism for pricing IPOs, institutional investor involvement, and board structure. We have shown that there is a noticeable decline in initial return over time, perhaps due to the strengthening of the regulatory environment and the ability of investment bankers to adequately manage the listing process of new issues. Furthermore, based on the review of past studies, we have managed to pinpoint significant factors that influenced the initial return in the Malaysian IPO market. Finally, we also provide suggestions for future research.

Item Type:	Article
Uncontrolled Keywords:	IPOs; Initial public offerings, Malaysian IPOs, Under-pricing of IPOs, Information asymmetry, Determinants of IPO under-pricing
Subjects:	H Social Sciences > HG Finance
Divisions:	UUM Press
Depositing User:	Mrs. Norazmilah Yaakub
Date Deposited:	15 Oct 2018 02:38
Last Modified:	15 Oct 2018 02:38
URI:	https://repo.uum.edu.my/id/eprint/24961

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