{"title":"The short and long-run performance of Shariah-compliant IPOs on Tadawul","authors":"Kamilah Kamaludin, Nadisah Zakaria","doi":"10.31580/SPS.V1I1.510","DOIUrl":"https://doi.org/10.31580/SPS.V1I1.510","url":null,"abstract":"We examine the short- and long-run financial performance of Sharia-compliant IPO companies in Saudi Arabia for the period between 2000 and 2017. While the literature on the short-run performance is more consistent in presenting evidence of underpricing (see T. Loughran, Ritter, and Rydqvist, 1994), the evidence for long-run performance have been rather mixed and inconclusive (T. Loughran & Ritter, 1995) between under-and-over-performance outcome. Intrigued by where Saudi Arabia may be positioned on this continuum our analysis indicates that Sharia-compliant IPOs on Tadawul are underpricing with abnormal initial returns of 79.23%. For the long-run performance, our analysis indicates that investors could earn positive and significant market-adjusted BHAR of 14.67% if IPO shares were held over the eighteen-month period following the listing date using the EWI as a market benchmark. The present study would benefit foreign investors and market regulators who are trying to understand the market behaviour in an emerging market.","PeriodicalId":21574,"journal":{"name":"Science Proceedings Series","volume":"36 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78043054","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Sameer Mohammed Sindi, A. Ariffin, Nazrul Hisyam, Fakarudin Kamarudin
{"title":"Bank mergers and acquisitions in emerging markets: evidence from the Middle East & North Africa region","authors":"Sameer Mohammed Sindi, A. Ariffin, Nazrul Hisyam, Fakarudin Kamarudin","doi":"10.31580/SPS.V1I1.509","DOIUrl":"https://doi.org/10.31580/SPS.V1I1.509","url":null,"abstract":"This study examined the short-term effects of bank mergers and acquisitions on acquirer banks in the Middle East & North Africa region (MENA). The results indicate that mergers and acquisitions have not caused significant positive or negative abnormal return in the short-term to acquirer banks in the MENA region.","PeriodicalId":21574,"journal":{"name":"Science Proceedings Series","volume":"123 9 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80468997","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Graduates’ Employability through the University Entrepreneurship Curriculum Implementation: The Malaysian Context","authors":"Abubakar Sani, Hazri Jamil","doi":"10.31580/SPS.V1I1.512","DOIUrl":"https://doi.org/10.31580/SPS.V1I1.512","url":null,"abstract":"Unemployment among Malaysian graduates has become a grievous issue, which attracts serious debates at several intellectual forums, seminars, conferences and other intellectual platforms. The concerned parties are government, academics, non-governmental agencies, academics and others. The issue makes other countries to question the Malaysian educational system and extensively affects the Malaysia’s vision of becoming developed country in 2025 (Ekpe, 2017). Thus, Malaysian government has identified three measures that could help to tackle the problem of unemployment among graduates. One, reforming the curricula to ensure quality and training. This was highlighted by the Prime Minister in his Budget speech in 2013. Second, the recent implementation of “1 Malaysia Training Scheme (SLIM) in 2011. Third, reforming the higher education curricula to stimulate the students’ mind set towards entrepreneurship (Bin Yusuf, Zainol & Bin Ibrahim, 2015; Bustamam & Abdul Halit, 2016). Nevertheless, the recent statistics (December, 2012-January, 2013), portray high level of unemployment among the graduates at the rate of 2.4 percent; and relatively signifies that graduates in Malaysia do not participate much in SLIM (Shamsuddin & Mohamed Mahfol, 2013; Statistics Labour Force, 2013).","PeriodicalId":21574,"journal":{"name":"Science Proceedings Series","volume":"58 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-03-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84198088","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
M. Foo, K. Kanapathy, S. Zailani, Mohd Rizaimy Shaharudin
{"title":"The Impact of Green Purchasing Capabilities and Practices on Firm Sustainability","authors":"M. Foo, K. Kanapathy, S. Zailani, Mohd Rizaimy Shaharudin","doi":"10.31580/APSS.V2I1.269","DOIUrl":"https://doi.org/10.31580/APSS.V2I1.269","url":null,"abstract":"The Conceptual framework of this study consists of the three main hypotheses to examine and reflect the positive relationship between the green purchasing capabilities ( integration, intra-organizational, innovative, financial and manufacturing) and green purchasing practices (supplier selection, development, collaboration,and evaluation) on triple bottom line performance. (Environmental, economic and intangible performance). The results of the study revealed that green manufacturing, financial, intraorganisational, and integration capabilities have positive significant effects on green purchasing practices. Nevertheless, innovation capabilities have no significant effect on green purchasing practices. On the other hand, the survey results indicate that green purchasing practices have positive effects on the triple bottom line performance of the firms. The research finding shows that there is a positive effect of green manufacturing capabilities, green integration capabilities and green intraorganisational capabilities on the triple bottom line performance. Meanwhile, there is no effect of green innovative and green financial capabilities on the triple bottom line performance of the firms","PeriodicalId":21574,"journal":{"name":"Science Proceedings Series","volume":"38 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2018-12-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84820481","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}