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The authors compare the post-issue stock and operating performance of rights issue versus public offer firms using Korean data. The authors find that the stock returns of rights issue firms are less negative than those of public offering firms during the three years subsequent to the seasoned equity offering. The authors further find that the profitability of rights offering firms is superior to those of public offering firms and that the ratio of sales to assets for rights issue firms is much higher over the post-issue period. The results substantiate Heinkel and Schwartz’s (1986) and Eckbo and Masulis’ (1992) theoretical models that posit firms with better quality tend to select the rights issue rather than public offer method when issuing seasoned equity.

The purpose of this study is to identify selected information from the prospectus that might signal the initial public offering (IPO) offer price.

This study uses cross-sectional data for a 14-year period from 2000 to 2014 in examining hypotheses relating to Shariah-compliant status, institutional investors, underwriter ranking and shareholder retention, with respect to their associations with the offer price of the IPOs. Further, this study uses ordinary least squares (OLS) for all models, including the models for both subsamples of Shariah- and non-Shariah-compliant IPOs. As for robustness, this study incorporates the quantile regression and quadratic model.

The results tend to provide support for the argument that firms with Shariah-compliant status reflect lower uncertainty and project better signalling of quality due to greater scrutiny by the government and thus are able to offer IPOs at higher prices. Similarly, firms with a higher proportion of shareholder retention indicate lower risks as insiders forego their options to diversify their portfolio, and hence could price their IPOs higher. Finally, the involvement of institutional investors and higher underwriter ranking could be used by firms to disregard information asymmetry, and therefore, the issuer might have to discount the IPO offer price.

This study focuses solely on information in the prospectus that should not be disregarded by the investors in valuing the appropriateness of the IPO offer price. This study contributes in terms of providing a better understanding of the determinant factors of the IPO offer price of the firms which are Shariah-compliant.

This paper provides evidence for the determinants of the IPO offer price in a fixed pricing mechanism for both Shariah-and non-Shariah-compliant IPOs.

Over 100 years ago, the bureaucratic compact and five professions were established: city/county management, city planning, civil engineering, landscape architecture, and architecture. In exchange for merit employment and independence from politics, these professions offered expertise and related values. To understand those values and changes in the compact from the 1900s to today, codes of ethics from the five professions were examined. Anticipated changes were a movement from traditional public values to business values including New Public Management. However, findings show traditional values persisting over time (e.g. public interest), but not many New Public Management values (e.g. innovation). Modern values do appear and expand professionalsʼ responsibilities into environmental protection, sustainability, and human rights, which influence what these professions offer as they seek to uphold their end of the bureaucratic compact.

Innovation is proven to be an essential element of every organisation that wants to achieve survival and sustain its presence. Libraries as information organisations are transformed into innovation incubators because of the fluid information environment, the social and economic influences and their desire to advance the public good. The Greek public libraries of Nafpaktos, Levadia and Veria are known examples of libraries that have successfully embraced change and innovation. This research aims to identify, through a content analysis of these specific public libraries’ websites, the innovative services they offer to the community.

It was found that the chosen public libraries offer a wide range of innovative services (e.g. Media Lab, Information Centres). No matter the challenges the Greek public libraries are facing, they have developed the necessary internal mechanisms to change the difficulties into opportunities and chance for excellence.

This exploratory study is an attempt to present the present status of Internet banking in India and the extent of Internet banking services offered by Internet banks. In addition, it seeks to examine the factors affecting the extent of Internet banking services.

The data for this study are based on a survey of bank websites explored during July 2008. The sample consists of 82 banks operating in India at 31 March 2007. Multiple regression technique is employed to explore the determinants of the extent of Internet banking services.

The results show that the private and foreign Internet banks have performed well in offering a wider range and more advanced services of Internet banking in comparison with public sector banks. Among the determinants affecting the extent of Internet banking services, size of the bank, experience of the bank in offering Internet banking, financing pattern and ownership of the bank are found to be significant.

The primary limitation of the study is the scope and size of its sample as well as other variables (e.g. market, environmental, regulatory etc.) which may have an effect on the decision of the banks to offer a wide range of Internet banking services.

The purpose of the study is to help fill significant gaps in knowledge about the Internet banking landscape in India. The findings are expected to be of great use to the government, regulators, commercial banks, other financial institutions, e.g. co‐operative banks planning to offer Internet banking, bank customers and researchers. The bankers as well as society at large will come to know where the banks lag in terms of adoption of Internet banking and in providing different products and services. An understanding of the factors affecting the extent of Internet banking services is essential both for economists studying the determinants of growth and for the creators and producers of such technologies. Moreover, this paper contributes to the empirical literature on diffusion of financial innovations, particularly Internet banking, in a developing country, i.e. India.

This study aims to investigate the valuation accuracy of Malaysian initial public offerings (IPOs) by using price-multiple methods.

Cross-sectional data including 467 IPOs listed on the Malaysian stock exchange were used for the period of 2000–2017. This study used univariate ordinary least square (OLS) regression to analyse the relationship between IPOs’ price-multiples and comparable firms’ price-multiples. The test of valuation accuracy was conducted via computing valuation errors by segregating the sample into two groups: fixed-price IPOs and book-built IPOs. Furthermore, multiple OLS regression was used to examine the influence of IPO valuation on underpricing.

The findings of the results suggested that IPOs price-to-earnings (P/E), price-to-book (P/B) and price-to-sales (P/S) multiples were positively related to the median P/E, P/B and P/S multiples of five comparable firms matched by industry and revenues. The P/S multiple was shown to be the most significant valuation method, specifically in book-built IPOs. The findings indicated that those firms that had a lower valuation in comparison to the comparable firms were inclined to underprice their IPOs to allure investors to subscribe IPOs. In addition, book-built IPOs that had fair valuations were inclined to generate higher initial returns for investors.

The findings of this study observed implications for underwriters in avoiding the mis-valuation issue by considering the book-building mechanism.

This study attempted to explore the suitability of the valuation method to value IPOs in Malaysia.

Research into the library as place investigates the role of public library buildings as destinations, physical places where people go for various reasons ranging from making use of the library's resources and services or seeking to fulfill an information or reading need to less easily identified reasons that may include using the library's building as a place to make social or business contacts, to build or reinforce community or political ties, or to create or reinforce a personal identity. This study asks: How are one rural US public library system's newly constructed buildings functioning as places? The answer is derived from answers to sub-questions about adult library users, user, and staff perceptions of library use, and observed use of library facilities. The findings are contextualized using a framework built of theories from human geography, sociology, and information studies.

This case study replicates a mixed-methods case study conducted at the main public libraries in Toronto and Vancouver in the late1990s and first reproduced in Halifax, Nova Scotia in 2006. It tests methods used in large urban settings in a rural, small-town environment. This study also expands on its antecedents by using thematic analysis to determine which conceptualizations of the role of the public library as place are most relevant to the community under investigation.

The study relies on quantitative and qualitative data collected via surveys and interviews of adult library users, interviews of library public service staff members, structured observations of people using the libraries, and analysis of selected administrative documents. The five sets of data are triangulated to answer the research sub-questions.

Thematic analysis grounded in the conceptual framework finds that public realm theory best contextualizes the relationships that develop between library staff members and adult library users over time. The study finds that the libraries serve their communities as informational places and as familiarized locales rather than as third places, and that the libraries facilitate the generation of social capital for their users.

This study examines the price performance of Greek IPOs in the period 1993‐1997. The Greek IPO market presents several particularities in respect to regulation and procedural arrangements that make its study interesting in the context of the international evidence regarding IPO price performance. We find that Greek IPOs had on average large positive initial returns, an evidence of under pricing. This evidence is also supported by the positive one‐year returns in relation to offer prices. Returns computed one year after listing in relation to the first trading day price are positive, inconsistent with international evidence. Annual analysis reveals, however, differential patterns in price behavior.