Article Per Year (5 Year)
p-Index From 2020 - 2025
0.983
P-Index
This Author published in this journals
All Journal Jurnal Keuangan dan Perbankan JDM (Jurnal Dinamika Manajemen) Gadjah Mada International Journal of Business Journal of Indonesian Economy and Business Journal of Islamic Monetary Economics and Finance Indonesian Capital Market Review Journal of Indonesian Economy and Business
Mamduh M. Hanafi
Faculty Of Economics And Business, Universitas Gadjah Mada
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Published : 18 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 5 Documents
Search
Journal : JDM (Jurnal Dinamika Manajemen)

 1 
ANALYSIS OF IPO UNDERPRICING FLUCTUATION: EMPIRICAL STUDY IN INDONESIA STOCK EXCHANGE Hanafi, Mamduh M.
Jurnal Dinamika Manajemen Vol 7, No 2 (2016): September 2016 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Semarang State University, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v7i2.8197

Abstract

This study attempts to analyze fluctuation of IPO underpricing in Indonesia market from 1990-2010. This research test three proposed hypotheses: changing risk composition, changing incentives alignment, and changing issuers’ objective function. The researcher also add other variables as potential explanation for underpricing fluctuation: introduction of book building mechanism in year 2000, industry (finance and non-finance), market return, and privatization (IPO of state owned companies and non-state owned companies). The analysis shows that market return and the introduction of book building mechanism have positive impact on underpricing. However, when both variables in regression equation are included, the effect of market return disappears, while the effect of book building mechanism persists. This finding seems to support Book Building advantage arguments and changing issuers’ objective functions hypothesis, in the sense that the introduction of book building mechanism changes objective function of parties involved. Final result is a change in IPO under pricing.
Analysis of IPO Underpricing Fluctuation: Empirical Study in Indonesia Stock Exchange Hanafi, Mamduh M.
JDM (Jurnal Dinamika Manajemen) Vol 7, No 2 (2016): September 2016 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v7i2.8197

Abstract

This study attempts to analyze fluctuation of IPO underpricing in Indonesia market from 1990-2010. This research test three proposed hypotheses: changing risk composition, changing incentives alignment, and changing issuers objective function. The researcher also add other variables as potential explanation for underpricing fluctuation: introduction of book building mechanism in year 2000, industry (finance and non-finance), market return, and privatization (IPO of state owned companies and non-state owned companies). The analysis shows that market return and the introduction of book building mechanism have positive impact on underpricing. However, when both variables in regression equation are included, the effect of market return disappears, while the effect of book building mechanism persists. This finding seems to support Book Building advantage arguments and changing issuers objective functions hypothesis, in the sense that the introduction of book building mechanism changes objective function of parties involved. Final result is a change in IPO under pricing.
The Effect of Intellectual Capital towards Firm Performance and Risk with Board Diversity as a Moderating Variable: Study in ASEAN Banking Firms Innayah, Maulida Nurul; Pratama, Bima Cinintya; Hanafi, Mamduh Mahmadah
JDM (Jurnal Dinamika Manajemen) Vol 11, No 1 (2020): March 2020 (DOAJ Indexed)
Publisher : Department of Management, Faculty of Economics, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v11i1.21487

Abstract

This paper finds out the impact of intellectual capital on firm performance and risk. Moreover, this paper also examines whether the board diversity in terms of gender and nationality can strengthen the effect of intellectual capital towards firm performance and risk that operates in banking industries in ASEAN. The data in this study obtained from Bloomberg and OSIRIS database and also the firm’s annual reports over the period of 2012-2016 (375 observations) and conducted in ASEAN countries, namely Indonesia, Philippines, Malaysia, Singapore, and Thailand. The results find that the efficient and effective use of intellectual capital will make the firms achieved higher performance. Meanwhile, intellectual capital can help reduce credit risk. In the interaction effect, the result is consistent with social psychology theory and shows that the presence of board diversity actually reduces firm performance and increases risk.
The Effect of Intellectual Capital towards Firm Performance and Risk with Board Diversity as a Moderating Variable: Study in ASEAN Banking Firms Innayah, Maulida Nurul; Pratama, Bima Cinintya; Hanafi, Mamduh Mahmadah
JDM (Jurnal Dinamika Manajemen) Vol 11, No 1 (2020): March 2020
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v11i1.21487

Abstract

This paper finds out the impact of intellectual capital on firm performance and risk. Moreover, this paper also examines whether the board diversity in terms of gender and nationality can strengthen the effect of intellectual capital towards firm performance and risk that operates in banking industries in ASEAN. The data in this study obtained from Bloomberg and OSIRIS database and also the firm’s annual reports over the period of 2012-2016 (375 observations) and conducted in ASEAN countries, namely Indonesia, Philippines, Malaysia, Singapore, and Thailand. The results find that the efficient and effective use of intellectual capital will make the firms achieved higher performance. Meanwhile, intellectual capital can help reduce credit risk. In the interaction effect, the result is consistent with social psychology theory and shows that the presence of board diversity actually reduces firm performance and increases risk.
Analysis of IPO Underpricing Fluctuation: Empirical Study in Indonesia Stock Exchange Hanafi, Mamduh M.
JDM (Jurnal Dinamika Manajemen) Vol 7, No 2 (2016): September 2016
Publisher : Department of Management, Faculty of Economics and Business, Universitas Negeri Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15294/jdm.v7i2.8197

Abstract

This study attempts to analyze fluctuation of IPO underpricing in Indonesia market from 1990-2010. This research test three proposed hypotheses: changing risk composition, changing incentives alignment, and changing issuers objective function. The researcher also add other variables as potential explanation for underpricing fluctuation: introduction of book building mechanism in year 2000, industry (finance and non-finance), market return, and privatization (IPO of state owned companies and non-state owned companies). The analysis shows that market return and the introduction of book building mechanism have positive impact on underpricing. However, when both variables in regression equation are included, the effect of market return disappears, while the effect of book building mechanism persists. This finding seems to support Book Building advantage arguments and changing issuers objective functions hypothesis, in the sense that the introduction of book building mechanism changes objective function of parties involved. Final result is a change in IPO under pricing.
Co-Authors Barsiano, Redik Eduardus Tandelilin Fitri Ismiyanti Fitri Ismiyanti, Fitri Jogiyanto Hartono Leo Indra Wardhana Lestari, Irna Puji Maulida Nurul Innayah Muhammad Munandar Muizzuddin Muizzuddin Pratama, Bima Cinintya R. Heru Kristanto HC Redik Brasiano Setiyono Setiyono Setiyono, Bowo Suad Husnan Taswan, Taswan Usman Arief Usman Arief, Usman