Signalling Effect of Auditor Reputation and Lock-Up Period on Over-Subscription Ratio: Evidence from Malaysian Fixed-Price IPOs

This study investigates the signalling effect of auditor reputation and lock-up period on the subscription demand of investors in the Malaysian IPO market that uses the fixed-price method in pricing IPOs. The study sample covers 420 IPOs listedon Bursa Malaysia from January 2000 to December 2015. The present study employsOrdinary Least Square(OLS)andQuantile Regression(QR)methodsin investigating the signalling effect on over-subscription ratio (OSR). The results indicate that auditor reputation has a negative effect and the lock-up period has a positive effect on OSR. This shows that investors’ demand in Malaysia is driven by capital gain and not by the quality of the listing firm. This is also supported by the control variables, where IPOs with low initial return, high offer price, high institutional involvement, and reputable underwriterhave lower OSR because they have lower initial returns.

Family Versus Institutional Involvement in Restructuring: Evidence From the Communications Equipment Industry

The prospect of restructuring can be seen as a mixed gamble that creates tensions between family owners and institutional investors in publicly traded firms. Both sides diverge in their reference points as family owners will pursue noneconomic goals, while institutional owners will pursue economic goals. We develop and test arguments to predict how resistance from family owners and support from institutional owners affect a firm’s restructuring. Using panel data from 1990 to 2004, the findings support our predictions and show that family owners can achieve both economic and noneconomic goals post-restructuring.

Curso de Agricultor Familiar: possíveis aproximações com a Educação Popular e a Educação do Campo

This article presents a research carried out on the execution of the Family Farmer Course, delivered in different municipalities around Farroupilha Federal Institute - Santo Augusto Campus, in 2013 and 2014, with the objective of identifying its characteristics and possible similarities with Popular Education and Rural Education. A qualitative bibliographic and documentary review was used as methodology. We started from the hypothesis that, for courses run by public institutions to meet the objectives of Popular and Rural Educations, there must be an articulation between the Extension project and the rural workers involved. We conducted our analysis based on the following questions: Are there theoretical references in the Pedagogical Project that indicate a commitment to Popular Education? What can be extracted from the Project in relation to the demands of Rural Education? Finally, what are the nature and scope of the Campus institutional involvement with family farmers, through the Research and Extension Department and the extension projects? We identified limitations of the Extension project when taking into account the needs for dialogue with rural workers and progressive aspects in the basic training space of the Pedagogical Course Project, which allowed reflections in class.

Implementation of Open Science in Lithuania

The number of open science policies being adopted in Europe by universities and research institutions is constantly increasing, however many European countries face difficulties while implementing open science practically. This publication reveals the Lithuanian landscape of open science policies and institutional involvement in open science practices. Prerequisites for sustainable and consistent open science implementation such as open science infrastructure, incentives for researchers, research assessment, and repositories' compliance with EC requirements on a national level are discussed.

Institutional Build-up of EU Health Actors

The growth of substantive EU public health and individual health policy and law is matched by a historic build-up of EU institutional actors. The institutional expansion has increased the EU’s capacity for law- and policy-making in the field of health and as such the possibility for the growth of EU power in this area. This chapter traces the evolution and growing presence of EU institutional actors in human health. It outlines the relevance of the growing institutional capacity for creating EU health law and policy. Subsequently a sketch is drawn of the emergence of EU institutional involvement in health policy—while taking into consideration that it may not be possible to create an exhaustive overview of all health actors involved at the EU level. This outline illustrates the growth of a variety of institutional actors and the expanding number of ways these engage in health policymaking. Moreover, the chapter demonstrates various ways in which EU institutional involvement in health is continuously expanding and changing. It illustrates that there is ample opportunity for formal actors with legislative or regulatory powers to be involved in informal processes of coordinating policy in the shadow of hierarchy. The growing institutional presence of the EU in health policy over time, and the possible shift in power to the EU this can entail, again confronts us with the pressing issue of its impact on fundamental rights and values in health.

Challenges and Opposition in the Twenty-First Century

This chapter tracks the role of Brotherhood affiliates after the so-called Arab Spring, with the aim of understanding how they function in the present day and how they were affected by the developments of 2011–2012, as well as the fall of the Muhammad Mursi government in Egypt. It shows the resilience and flexibility of rentier Islamists, in particular as political conditions have changed. As the regimes of the super-rentiers have limited the institutional involvement of the Brotherhood, either through co-optation or crackdown, the Brotherhood remained an influential cultural force for its appeal within conservative societies whose governments were becoming increasingly modern and Western-leaning.