Othman Yong
National University of Malaysia
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Publication
Featured researches published by Othman Yong.
Applied Economics | 2003
Othman Yong; Zaidi Isa
This paper presents the levels of under-pricing for new issues in a developing country, Malaysia, over a more recent period, January 1990-December 1998, than reported in prior studies. Three types of new issues were examined, namely public issue, offer for sale and combination or hybrid of offer for sale and public issue. Comparisons of initial return between types of new issues and between different board of listing were made. The results of independent t -tests for difference in mean initial returns indicate that, in general, there are significant differences in mean initial returns between types of new issues and between boards of listing. The results of step-wise regression reveal that on average, only over-subscription ratio contributes significantly to the initial returns. However, caution should be taken when interpreting the models formed because the Durbin-Watson rest indicate that some models are not free from problem of auto-correlation of the residuals.
American J. of Finance and Accounting | 2017
Abdolhossein Zameni; Othman Yong
This paper examines the lock-up provisions of initial public offerings (IPOs) and their effect on bid-ask spread changes around the lock-up expiry date of 379 Malaysian IPOs, issued during January 2001 to December 2011. The event study approach and the comparison period returns approach (CPRA) by Masulis (1980) are used. The results of the study indicate that investors and market makers are sceptical about the future of the companies before and after the lock-up expiry of some boards and sectors, which results in an increased adverse selection element of the bid-ask spread. The increased adverse selection element of bid-ask spread dominants the trading volume increase around the lock-up expiry and results in share price drop. Consequently, market makers prefer to increase the spread to protect themselves against informed traders.
Pacific-basin Finance Journal | 2007
Othman Yong
Journal of Islamic Accounting and Business Research | 2010
Ruzita Abdul Rahim; Othman Yong
Emerging Markets Review | 2011
Soo Wah Low; Othman Yong
Jurnal Pengurusan UKM Journal of Management | 2007
Othman Yong
Jurnal Pengurusan UKM Journal of Management | 2011
Othman Yong
Economic Systems | 2014
Rasidah Mohd Rashid; Ruzita Abdul-Rahim; Othman Yong
Archive | 2012
Ruzita Abdul Rahim; Nor Azizan Che Embi; Othman Yong
Asian Academy of Management Journal of Accounting and Finance | 2013
Ruzita Abdul Rahim; Ros Zam Zam Sapian; Othman Yong; Noor Azryani Auzairy