The Post-issue Market Performance of Initial Public Offerings: Empirical Evidence from the Malaysian Stock Markets

This study examines the long-run performance of the initial public offerings (IPOs) listed in the Malaysian main and alternative ‘Access, Certainty and Efficiency’ (ACE) markets at the economic and sectorial levels. Using event- and calendar-time study methods and monthly data from January 2000 to December 2011, we provide novel evidence on the existence of under performance anomaly in the Malaysian markets and more intensely in the ACE markets. We demonstrate robust evidence on the distinction in sector-specific characteristics from the aggregate market characteristics. While the consumer products and industrial sectors dominate the overall underperformance, the construction, property and technology sectors significantly overperform. The findings are robust to a wide range of other sensitivity checks including parametric and non-parametric tests. JEL Classification: G14, G15, G30, G34, G32, G38

POLA SINTAKTIS LAKON JAKA SUKARA

The history of Malay language has been going through a long way. Kridalaksana (1991:5) divided the development period of Malay language into four: the Melayu Kuna era (the 7th-14th century CE), the Melayu Klasik/Tengahan era (the 14th-18th), the Melayu Peralihan era (the 19th), and the Melayu Baru era (the 20th century). The Betawi language is the only Malay language that existed in Java Island. Dullaurier, as quoted by Hollander (1983;1984), said that the Malay language is divided into two groups: Malay language Malaka accent and Betawi accent (Muhadjir, 1999:21). In this research, the script of Lakon Jaka Sukara became the data source to find the characteristic features of Malay Betawi language syntax that is written in the script. Lakon Jaka Sukara is one of the scripts assumed to have been written by the Betawi people. In this case, the script of Lakon Jaka Sukara will be analyzed in its syntactic pattern. The research of the Betawi language writing variety, especially the ancient script has rarely been done. That case became important for this research to be conducted. After seeing the whole script, there is syntactic patterns that became the characteristic features of the writing variety of the Betawi language. That syntactic pattern is that there is construction property or possessive phrase, collocation [kasi], [beri], or [kerja] that is followed by verbs, construction [apa] that is followed by nouns, construction [barang] that is followed by [di mana], construction [pun] that is in front of male pronouns, and construction [pun] that is on the back of female pronouns.

A RECORDING AND DOCUMENTATION SYSTEM OF BUILDING STOCK: THE CASE OF PENTALOFOS SETTLEMENT IN KOZANI (GREECE)

Facing the need for effective and efficient integration of spatial and descriptive information related to the documentation of the cultural heritage, the primary aim of this project is the production of a dynamic geodatabase in order to collect, record and organize cartographic and architectural data as well as morphological and typological features of Pentalofos settlement into a GIS application. For this purpose, the project is meant, among other things, to complete a thorough research on the evolution of the settlement and its context, create the necessary geographic background for the documentation of the area of interest and to record building's technical features among others (year of construction, property status, structure, morphology, typology, description of current condition, pathology etc) by implementing traditional and up-to-date as well architectural documentation methods.

Application of Composite Waterproofing and Drainage Board in Low Embankment Highway

This paper introduces the composite waterproofing and drainage board, to solve issues such as the drainage problem and lack of sand gravel material in low filled embankment of plain area highway. Through the research of its application performance, design method and drainage effect. Studies show that the materials with perfect performance on tensile and compression strength are contribute to construction property of soil which under the board, it also can effective prevent water from seeping through the underground, and expel surplus water, to make sure the long-term stability of subgrade and subsoil. It is one perfect waterproofing and drainage materials used in low embankment highway.

Experimental Study on Slag-Based Composite Admixture

Admixture is a new material used for high-performance concrete. It is mainly used to improve the construction property and service performance and the durability of the concrete. At present, admixture is mainly made of a single component such as the slag, fly ash, silica fume, or mixed with a small amount of plaster. Different admixtures have different effects on the concrete and they have both advantages and disadvantages separately. Based on the principle of “Strength Synergistic Effect” of the composite materials, if the different kinds of admixtures are mixed into the concrete with suitable proportion, the advantages can be developed and the disadvantages will be avoided. In this study, the wide sources of admixtures such as slag, fly ash and limestone are used in the composite tests to develop a new kind of composite admixture which uses the slag as main raw material and has better performance.