Initial Premium, Flipping Activity and Opening-Day Price Spread of Malaysian IPOs
Keywords:
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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Published
01-12-2010
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Initial Premium, Flipping Activity and Opening-Day Price Spread of Malaysian IPOs. (2010). Capital Markets Review, 18(1&2), 45-61. https://mfa-cmr.com/cmr/article/view/250
