Economics at your fingertips  

A Quest for Small-Firm Effect: Evidence from KLSE Second Board

Abdul Razak Abdul Hadi (), Hadi Jaafar Pyeman and Wan Mansor Mahmood

The IUP Journal of Financial Economics, 2011, vol. IX, issue 3, 28-39

Abstract: A myriad of empirical studies conducted in developed markets indicate the existence of small-firm effect. This study is undertaken to investigate the presence of firm effect in emerging markets such as Malaysia Bourse (formerly known as Kuala Lumpur Stock Exchange). Applying the method used by Jensen et al. (1998), the study reveals an opposite result compared to that of the studies on developed markets. There is no statistically significant size premium on the stocks listed in the Kuala Lumpur Second Board. During the study period from 1990 to 2003, the large-cap portfolios consistently outperformed the small-cap portfolios, irrespective of the weightage used to form the two portfolios.

Date: 2011
References: Add references at CitEc
Citations: Track citations by RSS feed

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

More articles in The IUP Journal of Financial Economics from IUP Publications
Bibliographic data for series maintained by G R K Murty ().

Page updated 2021-11-20
Handle: RePEc:icf:icfjfe:v:09:y:2011:i:3:p:28-39