The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs

Che Embi, Nor Azizan and Rahim, Ruzita and Ibrahim, Izani (2013) The impact of shariah-compliance extensiveness screening on the initial performance of Malaysian IPOs. In: IIUM Research, Invention and Innovation Exhibition (IRIIE) 2013, 19-20th February 2013, Kuala Lumpur. (Unpublished)

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Abstract

This study suspects that relying on the current Shariah screening process on financial aspects by Shariah Advisory Council of Malaysia may be not sufficient as the two important ratios which are Debt ratio and ARTA ratio highlighted by Council of Islamic Fiqh Academy (CIFA) are not being used. The study observed 347 Shariah-compliant companies and 37 non-compliant Shariah companies that issued IPOs from January 1999 until December 2008. Obviously, when the Shariah IPOs samples are ranked based on the level of extensiveness, the difference in the initial returns between the most extensive Shariah IPOs and non-Shariah compliant IPOs prevails.

Item Type:	Conference or Workshop Item (Poster)
Additional Information:	6669/73912
Uncontrolled Keywords:	Initial public offering, Shariah compliant status, Underpricing, Shariah extensiveness
Subjects:	H Social Sciences > HG Finance > HG4501 Stocks, investment, speculation
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Kulliyyah of Economics and Management Sciences
Depositing User:	Assistant Prof. Nor Azizan Che Embi
Date Deposited:	23 Aug 2019 10:35
Last Modified:	23 Aug 2019 10:35
URI:	http://irep.iium.edu.my/id/eprint/73912

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