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UNDERWRITER REPUTATION AND IPO UNDERPRICING: THE MODERATING ROLE OF THE LISTING BOARD IN INDONESIA CAPITAL MARKET

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It is widely believed that the underwriter affects the IPO performance of the issuing firm. This research examines how the reputation of underwriters affects the initial returns of IPOs with the moderating role of the listing board. This study focuses on the data from 305 IPO Companies between 2018 and 2023. This data is being analyzed using Stata with an Ordinary Least Square (OLS) regression analysis. The study finds that IPOs underwritten by prestigious underwriters typically experience lower underpricing, possibly attributable to the underwriters' ability to reduce information asymmetry and select higher-quality issuers. Also, the relationship between underwriter reputation and IPO underpricing is stronger among companies listed on the Main Board. On the other hand, the dynamics between the underwriter's reputation and underpricing is weaker if the company listed on the Development Board.

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Availability

30007538

7538

RLC MM (Rak Tesis)

Available

Detail Information

Series Title

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Statement of Responsibility

Brillian Arbianto Kuswandi

Call Number

7538

Publisher

Salemba, Jakarta : Magister Manajemen FEB UI., 2025

Collation

xv, 92 p. : ill. ; 30 cm.

Language

English

ISBN/ISSN

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Classification

650

Content Type

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Edition

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Subject(s)

Manajemen Keuangan
Tesis
Underwriter Reputation
IPO Underpricing
Listing Board

Specific Detail Info

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