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2018 | vol. 14, iss. 1 | 152--167
Tytuł artykułu

Underpricing and Long-Term Market Performance of Initial Public Offerings in Indonesia: a Quantile Regression Approach

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
This study aims to identify the relationship between underpricing and long-term market performance of IPOs in the Indonesian Stock Exchange (IDX), as well as determinants of IPOs' market performance. We based our paper on the idea that it is more meaningful and relevant to investigate underpricing and long-term market performance determinants at different distribution points. OLS and quantile regression analysis isapplied to 105 samples of IPOs during 2009-2013. The results of OLS and quantile regressions indicate that assets value, age, proceeds, and underwriters' reputation are determinants of long-term market performance; while assets, age and proceeds also become underpricing determinants. Among these factors, proceeds become the most important determinant of underpricing and long-term market performance. (original abstract)
Rocznik
Strony
152--167
Opis fizyczny
Twórcy
  • Universitas Airlangga, Indonesia
  • Brawijaya University, Indonesia
  • Brawijaya University, Indonesia
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171513824

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