The determinants of involuntary delisting rate in the Egyptian IPO equity market

摘要: Purpose – The purpose of this paper is to examine the determinants involuntary delisting rate for Egyptian initial public offerings (IPOs) issued over period 1992-2009. Design/methodology/approach A definition survival time that considers date when new listing rules were enforced track status each IPO firm five years relied on. Binary logit regression analysis used identify these determinants. Total sample divided into two subsamples: first subsample covers from 1992 2004. It estimate equations and predict firms included in second subsample, which 2005 2009. Findings probability decreases significantly with increase size, institutional ownership, assets growth rate, operating efficiency, offering returns insider ownership. However, it increases high ...