Browsing by Author Abd Sukor, Mohd Edil

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  • pricing_efficiency_stock_rights_issues_Malaysia_edilabd_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Abd Sukor, Mohd Edil; Bacha, Obiyathulla Ismath (2010)

  • This article undertakes an empirical examination of pure rights issues in Malaysia. Though pricing efficiency is the main focus, we also examine related issues. We study a total of 38 pure rights issues that occurred over the 8-year period January 1998 to December 2005. Using two alternative valuation models, the adjusted BlackÔÇôScholes Call Option Model (BSOPM) and the traditional Implied Rights Valuation Model (IRVM), we find the Malaysian market to be inefficient in pricing the rights. Mispricing is quite extensive with a predominance of overpricing. Significantly, both pricing models, despite their different theoretical underpinnings produce similar results. These results are furth...

Browsing by Author Abd Sukor, Mohd Edil

Jump to: 0-9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
or enter first few letters:  
Showing results 1 to 1 of 1
  • pricing_efficiency_stock_rights_issues_Malaysia_edilabd_obiyathulla.pdf.jpg
  • Journal Article


  • Authors: Abd Sukor, Mohd Edil; Bacha, Obiyathulla Ismath (2010)

  • This article undertakes an empirical examination of pure rights issues in Malaysia. Though pricing efficiency is the main focus, we also examine related issues. We study a total of 38 pure rights issues that occurred over the 8-year period January 1998 to December 2005. Using two alternative valuation models, the adjusted BlackÔÇôScholes Call Option Model (BSOPM) and the traditional Implied Rights Valuation Model (IRVM), we find the Malaysian market to be inefficient in pricing the rights. Mispricing is quite extensive with a predominance of overpricing. Significantly, both pricing models, despite their different theoretical underpinnings produce similar results. These results are furth...