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https://repository.unej.ac.id/xmlui/handle/123456789/65104| Title: | Determinants of Underpricing in Indonesian Stock Market |
| Authors: | Nurhayati Maulidia, Yeni Gumanti, Tatang Ary |
| Keywords: | Underpricing |
| Issue Date: | 30-Nov-2015 |
| Abstract: | The purpose of this study is twofold. First, it examines the degree of underpricing in Indonesian initial public offering (IPO). Second, it examinesthe determinants of underpricing by focusing on three non-financial information, namely underwriter reputation, use of proceeds, and number of risk factors. Those three non-financial information serve as a signal concerning the quality of an IPO. A sample of 63 firms making IPO in Indonesian stock market from 2007 to 2012 is examined. The results show that Indonesian IPO firms on average are underpriced. Underwriter reputation has negative and significant relationship with the level of underpricing. Number of risk factorsis negatively related tothe degree of underpricing. |
| Description: | Journal of Economics, Business and Management, Vol. 3, No. 8, August 2015 |
| URI: | http://repository.unej.ac.id/handle/123456789/65104 |
| Appears in Collections: | LSP-Article In Journal |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| 2015_Determinants of Underpricing in Indonesian Stock Market_Tatang et al.pdf | 959.75 kB | Adobe PDF | View/Open |
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