The effect of accountant reputation on initial public offerings in Malaysia
This paper assesses the characteristics and the influence of accountants’ reputations on the underpricing of Initial Public Offerings (IPOs) stocks listed in the Main Board and Second Board of the Malaysia Stock Market. The sample data comprises of the first day price and the issue price of IPOs sto...
| Main Authors: | , |
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| Format: | Conference or Workshop Item |
| Language: | English |
| Published: |
2010
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| Online Access: | http://psasir.upm.edu.my/id/eprint/18481/ http://psasir.upm.edu.my/id/eprint/18481/1/ID%2018481.doc |
| _version_ | 1848843521282277376 |
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| author | Teh, Boon Heng Ong, Tze San |
| author_facet | Teh, Boon Heng Ong, Tze San |
| author_sort | Teh, Boon Heng |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This paper assesses the characteristics and the influence of accountants’ reputations on the underpricing of Initial Public Offerings (IPOs) stocks listed in the Main Board and Second Board of the Malaysia Stock Market. The sample data comprises of the first day price and the issue price of IPOs stocks selected from the financial year of 2005, 2006 and 2008. Results showed that there is a significant positive first day return, indicating a certain degree of underpricing in the IPOs stocks. However, there are no significant differences for returns, risks and coefficient of variation among the two groups of IPOs stocks audited respectively by the Big Four and non Big Four accounting firms. That is, IPOs stocks performance in terms of initial first day returns are not influenced by the factor accountants’ reputations. |
| first_indexed | 2025-11-15T08:16:21Z |
| format | Conference or Workshop Item |
| id | upm-18481 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T08:16:21Z |
| publishDate | 2010 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-184812020-07-17T02:53:08Z http://psasir.upm.edu.my/id/eprint/18481/ The effect of accountant reputation on initial public offerings in Malaysia Teh, Boon Heng Ong, Tze San This paper assesses the characteristics and the influence of accountants’ reputations on the underpricing of Initial Public Offerings (IPOs) stocks listed in the Main Board and Second Board of the Malaysia Stock Market. The sample data comprises of the first day price and the issue price of IPOs stocks selected from the financial year of 2005, 2006 and 2008. Results showed that there is a significant positive first day return, indicating a certain degree of underpricing in the IPOs stocks. However, there are no significant differences for returns, risks and coefficient of variation among the two groups of IPOs stocks audited respectively by the Big Four and non Big Four accounting firms. That is, IPOs stocks performance in terms of initial first day returns are not influenced by the factor accountants’ reputations. 2010-06 Conference or Workshop Item PeerReviewed application/msword en http://psasir.upm.edu.my/id/eprint/18481/1/ID%2018481.doc Teh, Boon Heng and Ong, Tze San (2010) The effect of accountant reputation on initial public offerings in Malaysia. In: Managing and Competing in The New World Economic Order, 30 May-2 June 2010, Indonesia. . |
| spellingShingle | Teh, Boon Heng Ong, Tze San The effect of accountant reputation on initial public offerings in Malaysia |
| title | The effect of accountant reputation on initial public offerings in Malaysia |
| title_full | The effect of accountant reputation on initial public offerings in Malaysia |
| title_fullStr | The effect of accountant reputation on initial public offerings in Malaysia |
| title_full_unstemmed | The effect of accountant reputation on initial public offerings in Malaysia |
| title_short | The effect of accountant reputation on initial public offerings in Malaysia |
| title_sort | effect of accountant reputation on initial public offerings in malaysia |
| url | http://psasir.upm.edu.my/id/eprint/18481/ http://psasir.upm.edu.my/id/eprint/18481/1/ID%2018481.doc |