Cover Image

The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia

This study examines the extent of the investment banks’ (IB) reputation, both high and low, affect the performance of the initial public offers (IPOs) on the Malaysian Main Board, Second Board and the MESDAQ market. Conventional and modified methodologies are used to measure the abnormal returns...

Full description

Saved in:
Bibliographic Details
Main Authors: Lin, Yong Tong, Rubi Ahmad,
Format: Article
Language:English
Published: Penerbit Universiti Kebangsaan Malaysia 2015
Online Access:http://journalarticle.ukm.my/9605/1/12177-33185-1-SM.pdf
http://journalarticle.ukm.my/9605/
http://ejournal.ukm.my/pengurusan/issue/view/749
Tags: Add Tag
No Tags, Be the first to tag this record!
id my-ukm.journal.9605
record_format eprints
spelling my-ukm.journal.96052016-12-14T06:50:26Z http://journalarticle.ukm.my/9605/ The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia Lin, Yong Tong Rubi Ahmad, This study examines the extent of the investment banks’ (IB) reputation, both high and low, affect the performance of the initial public offers (IPOs) on the Malaysian Main Board, Second Board and the MESDAQ market. Conventional and modified methodologies are used to measure the abnormal returns of the Malaysian samples between 2002 and 2008. The regression results based on the modified methods demonstrate that the reputation of IBs have significant influence over the performance of IPOs. However, the positive impact of the high reputation IBs (High IBs) is restricted to the Second Board over the short and medium terms but the negative influence of the low reputation IBs (Low IBs) is confined to the MESDAQ companies over the medium and the long terms. Contrary to many prior empirical studies, the reputation of the IBs does posses the signaling power to infer the future performance of IPOs. Penerbit Universiti Kebangsaan Malaysia 2015 Article PeerReviewed application/pdf en http://journalarticle.ukm.my/9605/1/12177-33185-1-SM.pdf Lin, Yong Tong and Rubi Ahmad, (2015) The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia. Jurnal Pengurusan, 45 . pp. 1-16. ISSN 0127-2713 http://ejournal.ukm.my/pengurusan/issue/view/749
institution Universiti Kebangsaan Malaysia
building Perpustakaan Tun Sri Lanang Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Kebangsaan Malaysia
content_source UKM Journal Article Repository
url_provider http://journalarticle.ukm.my/
language English
description This study examines the extent of the investment banks’ (IB) reputation, both high and low, affect the performance of the initial public offers (IPOs) on the Malaysian Main Board, Second Board and the MESDAQ market. Conventional and modified methodologies are used to measure the abnormal returns of the Malaysian samples between 2002 and 2008. The regression results based on the modified methods demonstrate that the reputation of IBs have significant influence over the performance of IPOs. However, the positive impact of the high reputation IBs (High IBs) is restricted to the Second Board over the short and medium terms but the negative influence of the low reputation IBs (Low IBs) is confined to the MESDAQ companies over the medium and the long terms. Contrary to many prior empirical studies, the reputation of the IBs does posses the signaling power to infer the future performance of IPOs.
format Article
author Lin, Yong Tong
Rubi Ahmad,
spellingShingle Lin, Yong Tong
Rubi Ahmad,
The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia
author_facet Lin, Yong Tong
Rubi Ahmad,
author_sort Lin, Yong Tong
title The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia
title_short The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia
title_full The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia
title_fullStr The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia
title_full_unstemmed The signaling power of the investment banks’ reputation on the performance of IPOs on Bursa Malaysia
title_sort signaling power of the investment banks’ reputation on the performance of ipos on bursa malaysia
publisher Penerbit Universiti Kebangsaan Malaysia
publishDate 2015
url http://journalarticle.ukm.my/9605/1/12177-33185-1-SM.pdf
http://journalarticle.ukm.my/9605/
http://ejournal.ukm.my/pengurusan/issue/view/749
_version_ 1643737855841796096
score 13.2014675

Similar Items