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Journal : International Journal of Economics Development Research (IJEDR)

The Influence of Lead Underwriter Reputation and Pooling Allotment on Underpricing Before and After the Implementation of the e-IPO Policy Arwan, Arwan; Raharja, Surya
International Journal of Economics Development Research (IJEDR) Vol. 5 No. 6 (2024): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v5i6.5501

Abstract

The e-IPO method is to consider the allocation of the minimum number of shares to retail investors through a more transparent pooling rationing. The purpose of this study is to analyze the impact of lead underwriter reputation and pooling allotment on the implementation of the new policy of the Financial Services Authority (OJK) in the Indonesian Capital Market, namely the transition from conventional IPOs to e-IPOs. This research method is quantitative using secondary data. The population used is companies that have IPOs on the IDX from 2016 - 2023. The samples used in the study are (a) Companies that have IPOs, registered with the OJK and listed on the IDX. (b) Companies that have IPOs, registered with the OJK and listed on the IDX that have complete data for the period 2016 to 2023. (c) Complete MKBD Lead Underwriter data from Companies that have IPOs and (d) complete variable data required in this study are available. The findings of this study highlight several important points: lead underwriter reputation has a significant negative effect on underpricing, lead underwriter reputation, with MKBD as a proxy, has a significant negative effect on underpricing, IPO costs have no significant effect on underpricing, IPO value has no significant effect on underpricing, assets have a significant positive effect on underpricing, firm age has no significant effect on underpricing, percentage of shares offered has a significant positive effect on underpricing, and pooling rationing has a significant negative effect on underpricing, e-IPO policy has a significant negative effect on underpricing.
Co-Authors A. Haris Abas Oya Abdul Haris Achmad Herman Afifah, Ulfa Nur Agustiani, Sindi ahmad yani Aji Satria, Muhammad Akbar Hidayat Ananta Wikrama Tungga Atmaja Anggraeni, Putri Decha Anita Putri, Anita Ariyanti, Zaskia Asep Rohman Atika, Nyimas Auliyah, Dwi Septi Bagus, Muhammad Fadli Bayan, Ashfan Abdan Budiarto, Syam Budiwan, Sadry Darmawati , Darmawati Darmawati Darmawati Deki Zulkarnain Devisia, Melani Dewi Iryani Dimas, Dimas Dr. I Nyoman Tika,M.Si . Duangkamol Aemevat Elvaria Mantao Fadjriah, Rasyika Nurul Fadli, Bagus Muhammad Fahriah, Fathia Saidah Farniati, Farniati Fauzi, Azra Febrianty, Yayuk Firmansyah , Firmansyah Firmansyah Firmansyah Fitria, Meylani Fransiska, Desvi Garaika Harapin Hafid H. Hardyanti Hardyanti Hasanah Hasanah Herawanto Herawanto, Herawanto Ibrahim Ibrahim Ika Purnamasari Ikra, Ikra Imelda, Ovi Iqbal Wahyuda Iswandari, Vanessa R Kamba, Ismail Kiki Sanjaya Kiki, Kiki Sanjaya Krisnasari, Sendhy La Tarifu, La Tarifu Lestari, Ayu Citra Li, Priska Veina Lismiati, Lismiati Lusia Salmawati M. Fahli Zatrahadi Mardiono, Mardiyono Mareta, Evi Maulana Maulana, Maulana Meilinda, Nina Miftahuddin Miftahuddin Mislawati, Sri Eva Misnawati Misnawati Muhammad Ansar, Muhammad Muhammad Rizki Ashari Muhammad Ryman Napirah Muhammad Sabri Syahrir Muhammad Yani Muhammad Zikra Ningsih, Suprihatin ningsih, Sutri Novi Inriyanny Suwendro Nurfidah, Nurfidah Nurul Istiqomah oya, abas Paramita, Shanti Pitriani, Pitriani Prasilia, Hellen Pujiastuti, Rr. Sri Endang Puteri, Rafa Nabila Rabial Kanada, Rabial Rafa Nabila Puteri Rahma, Nuraini Rahma, Nur’aini Rahmad Rahmad Rahman Rahman Rahmatullisa, Siti Ramadhina, Tri Wahyuni Ramdhani, Lisda Ratno Ratno Rosa Dwi Wahyuni Sadli Syam saidin, saidin Sakinah, Nazara Syifa Saputra, Ade Akhmad Saputra, Dedek Sari, Novita Eka Sarungallo, Amelia Tirsa Siti Nurhaliza Sitti Radhiah Sri Suryaningsih Sri Suryaningsih Subhan Subhan Suhaimi Suhaimi Sulfiyanti, Sulfiyanti Supriadin, Andi Suprianto, Rizky Fajar Supriyanto, Try Supryanto, Try Surya Raharja Syamsul Arif Syarifah Syarifah Syarifah Syarifah, Syarifah Taufiqurrahman, M. Ta’adi, Ta’adi Tesva, Sepralin Vidyanto, Vidyanto Wantah, firmansyah Wayan Suastra