Analysis on the influence of macroeconomic factors and initial public offerings (IPOS) in Indonesia period 2007-2014  

Oleh:

Tjong, William ; Prawongso, James

Jenis: Article from Proceeding
Dalam koleksi: Proceeding IConEnt 2016 (International Conference on Entrepreneurship) : How Innovation could Improve the Performance and Productivity in Entrepreneurship?, page 1-52.
Topik: macroeconomic; bank credit; stock market index; IPOs; cointegration; Indonesia
Fulltext: James Prawongso, William Tjong.pdf (1.18MB)

Isi artikel

This research aims to analyze whether the local macroeconomic factors have influence to the number of initial public offering in Indonesia with Tobit Regression model using monthly data from January 2007 to December 2014. The result show that total outstanding bank credit to the private sector has a significant negative influence to the number of IPOs, and a significant positive relationship between stock market index and number of IPOs. It is alsofound that there is a long-run equilibrium relationship between the total outstanding bank credit to the private sector, stock market index, and the number of IPOs using Johansen Co-integration test and Vector Error Correction model.

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