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The short and long-run performance of Shariah-compliant IPOs on Tadawul 符合伊斯兰教法的ipo在Tadawul的短期和长期表现
Science Proceedings Series Pub Date : 2019-03-21 DOI: 10.31580/SPS.V1I1.510
Kamilah Kamaludin, Nadisah Zakaria
{"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}
引用次数: 0
Bank mergers and acquisitions in emerging markets: evidence from the Middle East & North Africa region 新兴市场的银行并购:来自中东和北非地区的证据
Science Proceedings Series Pub Date : 2019-03-21 DOI: 10.31580/SPS.V1I1.509
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}
引用次数: 4
Graduates’ Employability through the University Entrepreneurship Curriculum Implementation: The Malaysian Context 通过大学创业课程实施毕业生<s:2>€™就业能力:马来西亚背景
Science Proceedings Series Pub Date : 2019-03-21 DOI: 10.31580/SPS.V1I1.512
Abubakar Sani, Hazri Jamil
{"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}
引用次数: 1
The Impact of Green Purchasing Capabilities and Practices on Firm Sustainability 绿色采购能力和实践对企业可持续发展的影响
Science Proceedings Series Pub Date : 2018-12-02 DOI: 10.31580/APSS.V2I1.269
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}
引用次数: 4
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