|Appears in Collections:||Accounting and Finance Journal Articles|
|Peer Review Status:||Refereed|
|Title:||The long run share price performance of Malaysian Initial Public Offerings (IPOs)|
|Author(s):||Ahmad-Zaluki, Nurwati A|
|Keywords:||Initial public offerings|
long run performance
|Citation:||Ahmad-Zaluki NA, Campbell K & Goodacre A (2007) The long run share price performance of Malaysian Initial Public Offerings (IPOs), Journal of Business Finance and Accounting, 34 (1-2), pp. 78-110.|
|Abstract:||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 value-weighted returns or using a matched company benchmark. The significant abnormal performance also disappears under the calendar-time approach using the Fama-French (1993) three factor model. While the long run performance of Main and Second Board IPOs does not differ, the year of listing, issue proceeds and initial returns are found to be performance-related.|
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