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Underpricing Stock Level of Sharehold in Stock Company Doing Income Smoothing Procedures at the Price Offer of Prime Stock in Indonesia Stock Exchange

Author

Listed:
  • Theresia Siwi Kartikawati

    (Politeknik Negeri Pontianak, Indonesia)

  • Elsa Sari Yuliana

    (Politeknik Negeri Pontianak, Indonesia)

  • Tashadi Tarmizi

    (Politeknik Negeri Pontianak, Indonesia)

Abstract

This study aims to analyze the effect of firm size, profitability, financial leverage to the level of underpricing in companies that are detected to perform income smoothing practices at the time of initial public offering in Indonesia Stock Exchange period 2012-2014. Based on the results of data analysis, partial testing shows that firm size variables, return on assets and financial leverage have no significant effect on the level of underpricing of shares. The result of the research also shows that there is no significant difference between level of underpricing between companies indicated to practice income smoothing with companies that are not indicated to practice income smoothing.

Suggested Citation

  • Theresia Siwi Kartikawati & Elsa Sari Yuliana & Tashadi Tarmizi, 2019. "Underpricing Stock Level of Sharehold in Stock Company Doing Income Smoothing Procedures at the Price Offer of Prime Stock in Indonesia Stock Exchange," International Journal of Economics and Financial Issues, Econjournals, vol. 9(2), pages 105-109.
    • Handle: RePEc:eco:journ1:2019-02-12
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    More about this item

    Keywords

    income smoothing; underpricing; stock exchange;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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