Dwi Martani, Ika Leony Sinaga dan Akhmad 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.
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