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Novriska Mointi
Department of Management, Economic Faculty, Gorontalo State University
Economics, Econometrics & Finance

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Analysis of Differences in Share Performance between SOEs and Non-SOEs Based on Short-Term Underpricing and Long-Term Underperformance Novriska Mointi; Yayu Isyana Pongoliu
Jambura Science of Management Vol 2, No 1 (2020): Jambura Science of Management - January 2020
Publisher : Universitas Negeri Gorontalo

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (599.96 KB) | DOI: 10.37479/jsm.v2i1.4438

Abstract

This study aims to determine the differences in the performance of shares of SOEs and Non-SOEs companies that conduct IPOs on the Indonesia Stock Exchange in the period 2010-2014 based on short-term underpricing and long-term underperformance. Sampling is done by using purposive sampling technique. Data analysis techniques used the independent sample parametric test and the non-parametric difference test mann whitney u test. The results showed that there were no differences in the performance of shares of SOE and Non-SOE companies conducting IPOs on the Indonesia Stock Exchange in the 2010-2014 period based on short-term underpricing. This means that in the short term investments in shares of Non-BUMN companies are more profitable for investors and are detrimental to the company because the funds obtained are less. But in testing based on long-term underperformance, the results of the study showed that there were differences in the performance of the shares of SOE and Non-SOE companies conducting IPOs on the IDX for the 2010-2014 period. This shows that BUMN companies have better performance than Non-BUMN companies, because government ownership gives more value and can operate in various sectors.
Co-Authors Yayu Isyana D. Pongoliu