Heterogeneity of opinion, shareholder retention ratio and lockup period: Malaysian evidence

• Main Authors: Albada, Ali, Low, Soo Wah, Yong, Othman, Md Nassir, Annuar, Kamarudin, Fakarudin, Mohamad Anwar, Nazratul Aina
• Format: Article
• Language: English
• Published: Fakulti Ekonomi dan Pengurusan, Universiti Putra Malaysia 2019
• Online Access: http://psasir.upm.edu.my/id/eprint/80059/1/17%29%20Heterogeneity%20of%20opinion.pdf; http://psasir.upm.edu.my/id/eprint/80059/

This paper examines the effects of the lock-up period and shareholder retention ratio on the heterogeneity of investors beliefs regarding the true value of IPOs in the Malaysian IPO market. The relationship between the signalling variables and the first-day price range of IPOs is examined using a qu...