Citation

Wasiuzzaman, Shaista and Yong, Fook Lye Kevin and Sundarasen, Sheela Devi D. and Othman, Noor Shahaliza (2018) Impact of disclosure of risk factors on the initial returns of initial public offerings (IPOs). Accounting Research Journal, 31 (1). pp. 46-62. ISSN 1030-9616

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Abstract

When a firm goes public for the first time, its prospectus serves as an important reference for investors. It is required by regulation that the risk factors which have significant influence on the business be disclosed in the prospectus. The purpose of this study is to analyze how disclosure of these risk factors influences the initial returns of initial public offerings (IPOs). To do this, a sample of 96 Malaysian new equity offerings (IPOs) from year 2009 to year 2013 is used. Ordinary least squares regression technique is used to regress initial returns against risk disclosures. Aside from overall risk disclosure, individual dimensions of risk (internal risk, external risk and investment risk) are also considered.

Item Type:	Article
Uncontrolled Keywords:	Going public (Securities), Malaysia, Initial public offerings, Risk disclosure
Subjects:	H Social Sciences > HG Finance > HG4001-4285 Finance management. Business finance.
Divisions:	Faculty of Management (FOM)
Depositing User:	Ms Rosnani Abd Wahab
Date Deposited:	10 Nov 2020 15:08
Last Modified:	10 Nov 2020 15:08
URII:	http://shdl.mmu.edu.my/id/eprint/7300

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