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Monday July 4th 2022

Analysis on Factors Affecting IPO Stock Under-Pricing and Their Effects on Earnings Persistence of Manufacturing Companies

Dwi Martani, Ika Leony Sinaga danAkhmad Syahroza
                                                                                                                                                                                   Abstract
                                                                                                                                                                                        The study examines the determinants of IPO underpricing in manufacturing companies in Indonesia 1994 – 2006. The result indicate that size of company is associated with IPO underpricing. There ispositive association between underpricing and earnings persistence only in one period after IPO. This indicates the company tries to mantain investor’s trust during its early period after IPO. While in the second year, level of underpricing is irrelevant to predict the earnings persistence.
                                                                                                                                                                                      JEL Codes: G10, G14, G30, M41                                                                                                                        Keywords: IPO, underpricing, earnings persistence, ex-ante uncertainty
                                                                                                                                                                                        Dipresentasikan pada The 6th International Conference on Business and Management Research “The Business and Management Challenges of the Asean Economic Community 2015”, Di Ateneo de Manila University, Philippines, 27 – 28 Oktober 2011. Analysis on Factors Affecting IPO…-Dwi Martani

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