TAILIEUCHUNG - Behavior of initial return in Indonesia market

This paper aimed to explore the behavior of initial return in Indonesia Market from 2000 to 2017. Initial Return is calculated by closing price on the first day of trading in stock market compared to price of Initial Public Offering (IPO). Furthermore, Completely Randomized Design is used to find the differences of initial return between industries and yearly. The result showed this research found average Initial Return of for period 2000 to 2017 that as IPO Company of 355. There is no difference between initial return of industries, but there is difference of initial return in each year (yearly). This research using secondary data. Data Period is 2000 to 2017, and might be found missing data. The people has information to decide buying stocks. | Journal of Applied Finance Banking vol. 9 no. 4 2019 37-45 ISSN 1792-6580 print version 1792-6599 online Scienpress Ltd 2019 Behavior of Initial Return in Indonesia Market Adler Haymans Manurung1 Edhi Juwono2 and Indra Siswanti2 Abstract This paper aimed to explore the behavior of initial return in Indonesia Market from 2000 to 2017. Initial Return is calculated by closing price on the first day of trading in stock market compared to price of Initial Public Offering IPO . Furthermore Completely Randomized Design is used to find the differences of initial return between industries and yearly. The result showed this research found average Initial Return of for period 2000 to 2017 that as IPO Company of 355. There is no difference between initial return of industries but there is difference of initial return in each year yearly . This research using secondary data. Data Period is 2000 to 2017 and might be found missing data. The people has information to decide buying stocks. JEL classification numbers G32 Keywords behavior initial return Indonesia Market monthly Initial Public Offering. 1 Introduction Since Ibbotson 1975 published his research the initial return of a company that the first time traded in the stock market becomes popular. However Manurung 2013 stated that empirical research of IPO Initial Public Offering has been done before Ibbotson published his paper such as Reilly and Hatfield 1969 Stoll and Curley 1970 Brown 1970 Shaw 1971 McDonald and Fisher 1972 and Logue 1973 . Research of Ibbotson s research is popular 1 Doctor Research in Management - Bina Nusantara University Jakarta - Indonesia 2 Asian Banking Finance and Informatics Institute Perbanas Article Info Received January 10 2019. Revised February 1 2019 Published online May 10 2019 38 Adler Haymans Manurung et al. as extensive research in IPO and aims to define the concept of initial returns and its methodology. Ritter 1991 stated that initial return is the first time to show number and he

• Kinh tế học
• Initial return
• Indonesia market
• Initial public offering
• Initial return in Indonesia market
• Information to decide
• Accounting undergraduate Honors theses
• The determinants and consequences of CEO cheap stock in IPOs
• Stock return performance
• Future firm operating
• CEO cheap stock
• Initial public offerings