Environmental pollution and sustainability of IPO performance: evidence from the Pakistani Market

Mehmood, Waqas; Alsmady, Ahnaf Ali; Amin, Saqib; Mohd‐Rashid, Rasidah; Aman‐Ullah, Attia

doi:10.1007/s11356-022-23985-8

Cited by 2 publications

(2 citation statements)

References 57 publications

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“…Regarding information asymmetry, the signalling theory (Spence, 1973) states that companies with greater resources and outcomes signal better corporate performances to give positive impressions to the information receiver (Mehmood et al ., 2023a, b). According to the signalling theory, companies with positive news tend to reveal greater information to investors.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

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From disclosure to sustainable performance: how corporate social responsibility disclosure impacts the long-term share price performance of Malaysian IPO

Abbas,

Ahmad-Zaluki,

Mehmood

2023

MEQ

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PurposeThis paper examines the relationship between the extent and quality of the four dimensions of corporate social responsibility disclosure (CSRD) namely community, environment, workplace and marketplace with the long-run share price performance of Malaysian initial public offering (IPO) companies.Design/methodology/approachThis study utilised secondary data by the content analysis of the annual reports and Datastream of 115 IPOs listed from 2007 to 2015 in Malaysia. The IPO’s performance was determined by calculating the return measures under the equally weighted and value-weighted schemes of the mean abnormal returns and buy-and-hold abnormal returns covering the three years post-listing using the event-time approach.FindingsThe findings demonstrate that Malaysian IPOs experience substantial overperformance and underperformance when both the IPO performance measures are benchmarked against the matched companies and market. The results indicated that the extent and quality of the community and environment CSRD dimensions are positively and significantly correlated to the IPO’s performance. On the other hand, the extent and quality of the workplace and marketplace CSRD dimensions are negatively and significantly correlated to the IPO performance.Practical implicationsMalaysian regulators could benefit from these findings in their endeavour to carry out a reform process on CSRD to improve its quality. The results of this study are important to investors, regulators, non-government organisations, communities and policymakers. They also enhance the understanding of companies about the importance of disclosing greater CSR information to improve their performance and profitability.Originality/valueTo the researchers' best knowledge, this study provides new insights into the association between CSRD and the performance of Malaysian IPO companies, which is considered important.

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

“…One of the methods of raising capital is through initial public offerings (IPO) (Tajuddin et al ., 2023a, b; Mehmood et al ., 2023a, b). An IPO is identified as going public when an equity, debt or security is offered for the first time (Mehmood et al.…”

Section: Introductionmentioning

confidence: 99%

From disclosure to sustainable performance: how corporate social responsibility disclosure impacts the long-term share price performance of Malaysian IPO

Abbas,

Ahmad-Zaluki,

Mehmood

2023

MEQ

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Nexus of corporate governance, political stability and Performance: Evidence from IPOs of an emerging economy

Waris

2024

Preprint

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Purpose The purpose of this study is to investigate the nexus of corporate governance, political stability and Performance in IPOs of an emerging economy such as Pakistan. Material and Methods The data used in this study were obtained from the annual reports of IPO-listed firms in Pakistan between 2008 to 2022. We used different methods such as regression analysis, random effect model, and GMM methods in the analysis process. Findings and Conclusion : Our results show that an independent board has a significant positive relationship with performance. Moreover, board size has both a negative and positive relationship with the performance of the IPOs. Gender diversity has a significant positive relationship with IPO performance. Moreover, the age of the firm has a significant positive relationship with IPO performance. Political stability within the country has a positive relationship with IPO performance, whereas the political instability decreases the performance and vice versa. Policy Implications: This study provides practical implications to the government and investors; the government makes a code of corporate governance to increase the number of corporations by improving their Initial return and Investors use the study to evaluate the corporation with an effective code of corporate governance for protecting their investment.

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Environmental pollution and sustainability of IPO performance: evidence from the Pakistani Market

Cited by 2 publications

References 57 publications

From disclosure to sustainable performance: how corporate social responsibility disclosure impacts the long-term share price performance of Malaysian IPO

From disclosure to sustainable performance: how corporate social responsibility disclosure impacts the long-term share price performance of Malaysian IPO

Nexus of corporate governance, political stability and Performance: Evidence from IPOs of an emerging economy

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