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All Journal Journal of Indonesian Economy and Business Journal An-Nafs: Kajian Penelitian Psikologi
Muhammad Munandar
Universitas Gadjah Mada
Economics, Econometrics & Finance Education Environmental Science Social Sciences Other

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PRICE STABILIZATION AND IPO UNDERPRICING: AN EMPIRICAL STUDY IN THE INDONESIAN STOCK EXCHANGE Husnan, Suad; Hanafi, Mamduh M.; Munandar, Muhammad
Journal of Indonesian Economy and Business Vol 29, No 2 (2014): May
Publisher : Journal of Indonesian Economy and Business

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Abstract

We attempt to investigate IPO underpricing and stabilization activities. We find IPOunderpricing of around 25% in the Indonesia market. Return distribution for the first 30-tradingdays shows a positive skew, the distribution becomes closer to normality as the periodlengthens. We then develop and test five algorithms to detect IPO intervention. An importantgoal of this paper is to develop an algorithm that will be able to detect IPO intervention usingpublic data. We find that the number of closing prices that are equal to the offer prices and theskewness of the IPO return in the first 30-trading days are the ‘best’ stabilization measures.Having found “the best measures”, then we investigate under what conditions IPO interventionis more intensive. We find that underwriters tend to stabilize more on more expensive IPOs.Keywords: IPO, Indonesia, underpricing, stabilization
Self-Efficacy, Religiosity, and Social Support with Undergraduate Students' Self-Regulated Learning in Distance Learning Munandar, Muhammad; Ruhaena, Lisnawati
Journal An-Nafs: Kajian Penelitian Psikologi Vol. 8 No. 2 (2023): Journal An-Nafs: Kajian Penelitian Psikologi
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/psi.v8i2.3648

Abstract

The existence of a pandemic has limited all sectors of activity, one of which is the education sector. In March 2020, distance learning began to be implemented in Indonesia, where students experienced problems during the implementation. The sample was undergraduate students participating in distance learning. This study used quantitative research with the correlational research design with multiple regression analysis involving 408 students participating in distance learning. The motivated Strategy for Learning Questionnaire (MSLQ) was used to measure self-regulated learning, the General Self-Efficacy Scale (GSES) was used to measure self-efficacy, the Centrality of Religiosity Scale (CRS) was used to measure religiosity, and the parental social support compiled by Fitrotin was used to measure parental social support. Data analysis used linear regression. The results of the study revealed that self-efficacy, religiosity, and parental social support had a relationship with self-regulated learning. This is indicated by a positive Beta = 8.590, a p-value of 0.001 (p <0.005), a regression (F value) of 97.176, and an effective contribution to self-regulated learning of 41.9%. Programs to increase self-efficacy, religiosity, and parental social support are very important to increase self-regulated learning.
Co-Authors Lisnawati Ruhaena Mamduh M. Hanafi Suad Husnan