Initial Premium, Flipping Activity and Opening-Day Price Spread of Malaysian IPOs
DOI:
https://doi.org/10.66674/3p7sna16Keywords:
Bandwagon effect, IPOs, IPO flipping, IPO price spread, Malaysian IPOsAbstract
Abstract: This paper examines the significance of some ex-ante variables on the initial premium of Malaysian IPOs and the immediate aftermarket behavior of investors during period January 2004 to December 2007. Overall, there is a positive relationship between investor demand and initial premium, but only the Main Board registers a strong relationship between investor demand and flipping. Firm size is inversely related to initial premium, flipping activity and price spread. Offer size is inversely related to flipping.
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Copyright (c) 2010 Othman Yong (Author)
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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.
