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...

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Main Authors:	Lin, Yong Tong, Rubi Ahmad
Format:	Article
Language:	English
Published:	Penerbit Universiti Kebangsaan Malaysia 2015
Online Access:	http://journalarticle.ukm.my/9605/ http://journalarticle.ukm.my/9605/ http://journalarticle.ukm.my/9605/1/12177-33185-1-SM.pdf

id	ukm-9605
recordtype	eprints
spelling	ukm-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
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Kebangasaan Malaysia
building	UKM Institutional Repository
collection	Online Access
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/ http://journalarticle.ukm.my/9605/ http://journalarticle.ukm.my/9605/1/12177-33185-1-SM.pdf
first_indexed	2023-09-18T19:55:20Z
last_indexed	2023-09-18T19:55:20Z
_version_	1777406491732475904

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

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