Detail Earnings quality and IPO underpricing in Indonesia (presented at 3rd International Conference on Management & Entrepreneurship (3rd i-CoME) Phuket, 25–27 July 2019) Bibliografi Author: Purnawan, Billy ; Pangestu, Stevanus Topik: Earnings quality; underpricing; initial public offering; discretionary accrual; JABFUNG-FEB-STPANG-2020-07 Bahasa: (EN )     Penerbit: Institute for Research and Community Outreach, PETRA PRESS, Petra Christian University     Tempat Terbit: Surabaya    Tahun Terbit: 2019     Jenis: Papers/Makalah - pada seminar internasional Fulltext: Billy and Pangestu 2019.pdf (181.02KB; 2 download) B6 Pangestu sertifikat and prosiding and artikel ICOME.pdf (3.21MB; 3 download) Abstract The purpose of this research is to analyze the influence of earnings quality on IPO underpricing in Indonesia Stock Exchange. Earnings Quality is measured with earnings management, which is computed using Modified Jones model. A high level of discretionary accruals indicates a lower quality of earnings. A number of 115 IPOs from 2013 until 2018Q3 were examined. Our cross-sectional OLS analysis on Eviews econometric package finds that earnings quality negatively influences underpricing, i.e. a lower quality of earnings leads to higher underpricing. This finding corresponds with Spence?s Signaling theory. Other regressors that statistically affect underpricing include firm age, offer price, and offer size. Finally, we can conclude that the Indonesian stock market is not efficient. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Lihat Sejarah Pengadaan  Konversi Metadata   Kembali

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