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Phenomenon of leaving money on the Indonesian's IPO table

Author

Listed:
  • Fajri Adrianto
  • Masyhuri Hamidi
  • Syukri Lukman
  • Laela Susdiani
  • Jingga Novebreza Islah

Abstract

This research aims to study 'leaving money on the table' phenomenon in emerging IPO market. This phenomenon exists in the emerging market, including the Indonesian stock market. During 2010-2018, more than 80% of Indonesian IPOs are underpriced. Therefore, this study is essential to examine the relationship between fundamental information/underwriters and the amount of money left on the Indonesian IPO table. We test our non-financial institutional IPO using the cross-sectional regression model. We find that firms with experienced underwriters and good governance are more likely to leave lower money on the Indonesia IPO table.

Suggested Citation

  • Fajri Adrianto & Masyhuri Hamidi & Syukri Lukman & Laela Susdiani & Jingga Novebreza Islah, 2025. "Phenomenon of leaving money on the Indonesian's IPO table," International Journal of Business and Globalisation, Inderscience Enterprises Ltd, vol. 39(2), pages 183-199.
    • Handle: RePEc:ids:ijbglo:v:39:y:2025:i:2:p:183-199
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