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Featured researches published by Othman Yong.


Applied Economics | 2003

Initial performance of new issues of shares in Malaysia

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

Effects of lock-up expiry on bid-ask spread of Malaysian IPOs

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

A review of IPO research in Asia: What's next?

Othman Yong


Journal of Islamic Accounting and Business Research | 2010

Initial returns of Malaysian IPOs and Shari'a‐compliant status

Ruzita Abdul Rahim; Othman Yong


Emerging Markets Review | 2011

Explaining over-subscription in fixed-price IPOs -- Evidence from the Malaysian stock market

Soo Wah Low; Othman Yong


Jurnal Pengurusan UKM Journal of Management | 2007

Investor Demand, Size Effect and performance of Malaysian Initial Public Offerings: Evidence from Post-1997 Financial Crisis

Othman Yong


Jurnal Pengurusan UKM Journal of Management | 2011

Winner’s Curse and Bandwagon Effect in Malaysian IPOs: Evidence from 2001-2009

Othman Yong


Economic Systems | 2014

The Influence of Lock-up Provisions on IPO Initial Returns: Evidence from an Emerging Market

Rasidah Mohd Rashid; Ruzita Abdul-Rahim; Othman Yong


Archive | 2012

WINNER'S CURSE AND IPO INITIAL PERFORMANCE: NEW EVIDENCE FROM MALAYSIA

Ruzita Abdul Rahim; Nor Azizan Che Embi; Othman Yong


Asian Academy of Management Journal of Accounting and Finance | 2013

Flipping Activity and Subsequent Aftermarket Trading in Malaysian IPOs

Ruzita Abdul Rahim; Ros Zam Zam Sapian; Othman Yong; Noor Azryani Auzairy

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Ruzita Abdul Rahim

National University of Malaysia

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Ros Zam Zam Sapian

National University of Malaysia

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Ruzita Abdul-Rahim

National University of Malaysia

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Soo Wah Low

National University of Malaysia

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Fauzias Mat Nor

National University of Malaysia

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Noor Azryani Auzairy

National University of Malaysia

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R. Mohd Rashid

Universiti Malaysia Perlis

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