THE LONG RUN PERFORMANCE OF INITIAL PUBLIC OFFERING IN MALAYSIA
DOI:
https://doi.org/10.66674/q07j5q59Abstract
Equity financing through initial public offerings (IPOs) has emerged as a critical avenue for firms seeking capital, reflecting the growing role of public markets in corporate funding. Despite high investor interest, IPOs are frequently oversubscribed, leaving many participants to acquire shares only in the aftermarket. Understanding the post-listing performance of these new issues is therefore essential for both investors and market analysts. This study investigates the one- to three-year aftermarket performance of IPOs, assessing deviations from market efficiency and exploring how performance correlates with initial returns, firm establishment, and market value at listing. Findings from this research provide insights into investment strategies, the dynamics of aftermarket trading, and the broader efficiency of equity markets.
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Copyright (c) 1993 Seng Wu Tay (Author)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors retain copyright and grant Capital Markets Review the right of first publication. Articles are published under the Creative Commons Attribution 4.0 International (CC BY 4.0) licence: https://creativecommons.org/licenses/by/4.0/. This licence permits sharing and adaptation for any purpose, including commercial use, provided appropriate credit is given, a link to the licence is supplied and any changes are indicated. Third-party material excluded from the article's licence must be clearly identified, and authors are responsible for obtaining any required permission.
