Saudi Arabian IPOs Productivity and Efficiency

19 Pages Posted: 24 Oct 2009

See all articles by Ahmed S. Alanazi

Ahmed S. Alanazi

Alfaisal University

Benjamin Liu

Griffith University - Department of Accounting, Finance and Economics

John Forster

Griffith University - Department of Accounting, Finance and Economics

Date Written: October, 22 2009

Abstract

Purpose - The main objective of the paper is to examine the performance of Saudi Arabian firms’ performance as they make the transition from private ownership into public ownership.

Design/ Methodology/ Approach - A sample of 13 Saudi IPOs performance is investigated. We use a data envelopment analysis DEA method to construct the Malmquist productivity and efficiency indices.

Findings - We have found that Saudi IPOs exhibit a significant decline in the productivity after the IPO as compared to the pre-IPO level.

Originality/ Value - The paper is the first to provide assessment for the clustering IPOs that occurred in the Kingdom of Saudi Arabia in recent years.

Keywords: Saudi initial public offerings, Firms’ performance, Productivity, DEA method, Malmquist Index

JEL Classification: D24, D57, L33

Suggested Citation

Alanazi, Ahmed S. and Liu, Benjamin and Forster, John, Saudi Arabian IPOs Productivity and Efficiency (October, 22 2009). Available at SSRN: https://ssrn.com/abstract=1492939 or http://dx.doi.org/10.2139/ssrn.1492939

Ahmed S. Alanazi (Contact Author)

Alfaisal University ( email )

P.O.Box 50927
Riyadh 11533
Riyadh, Riyadh 11533
Saudi Arabia

Benjamin Liu

Griffith University - Department of Accounting, Finance and Economics ( email )

PMB 50
Gold Coast Queensland 9726
Australia

John Forster

Griffith University - Department of Accounting, Finance and Economics ( email )

PMB 50
Gold Coast Queensland 9726
Australia

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