Author

  • Azlan Md Thani

    • Faculty of Accountancy, Universiti Teknologi MARA Cawangan Melaka, Malaysia
    • Malaysia

  • Muhammad Mukhlis Abdul Fatah

    • Faculty of Accountancy, Universiti Teknologi MARA Cawangan Melaka, Malaysia
    • Malaysia

  • Shazali bin Shaharudin

    • Faculty of Accountancy, Universiti Teknologi MARA Cawangan Melaka, Malaysia
    • Malaysia

  • Mohd Ariff Mustafa

    • Faculty of Accountancy, Universiti Teknologi MARA Cawangan Melaka, Malaysia
    • Malaysia

  • Mohd Waliuddin Mohd Razali

    • Faculty of Economics and Business, Universiti Malaysia Sarawak, Malaysia
    • Malaysia

Abstract

This study investigates ~~t~~ he share price performance of the IPOs surrounding the expiration of the lockup period in the Malaysian stock market. The study explores whether the IPOs without analysts’ positive recommendations give a significant positive share price performance in situations of the negative effect of the expiration of the lockup period. The IPOs sample of 281 companies was taken from the period of January 2000 to December 2014. The study applied event study methodology to investigate the performance of the IPO share price. The study found that the IPOs without analysts’ positive recommendations gave an insignificant positive share price performance in the event window of (-10, +10) surrounding the expiration of the lockup period. Whilst, the longer event window (-30, +30) shows a significant positive share price performance surrounding the expiration of the lock-up period.

Keywords

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How to Cite

Md Thani, A., Abdul Fatah, M. M., bin Shaharudin, S., Mustafa, M. A., & Mohd Razali, M. W. (2024). The Share Price Behavior of the IPO Surrounding the Expiration of the Lockup Period. Evidence from IPOs with No Analyst Positive Recommendations. Information Management and Business Review, 16(3(I), 339-345. https://doi.org/10.22610/imbr.v16i3(I).3866

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Copyright (c) 2024 Azlan Md Thani, Muhammad Mukhlis Abdul Fatah, Shazali bin Shaharudin, Mohd Ariff Mustafa, Mohd Waliuddin Mohd Razali (Author)

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Research Paper

Published in

Vol. 16 No. 3(I) (2024) Event Management, Control Systems & Digital Health View issue contents

Published

2024-09-06

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