ELISAWATI, ELISAWATI (2017) ANALISIS STRATEGI EXIT IPO JANGKA PENDEK DAN JANGKA PANJANG PADA PERUSAHAAN YANG TERDAFTAR DI BURSA EFEK INDONESIA. Skripsi thesis, Universitas Tarumanagara.
Full text not available from this repository.Abstract
This study aimed to examine the short term and long term IPO performance and test when is the optimal right time for investor or venture capitalist to exit. Short term performance of this study is to test the effect of firm’s age, auditor reputation, underwriter reputation, financial leverage, firm’s size, and offer size to initial return. The sample consist on 76 companies listing in Indonesia Stock Exchange, comprising of a part of LQ45 and a part of non-LQ45 which are IPO in 2011-2013 period. The analysis method was Robust Least Square Analysis and Statistic Descriptive Analysis. The results showed that only underwriter reputation and auditor reputation have a negative and significant effect to initial return in LQ45 companies and the company IPO in 2011-2013 period, while the firm’s age, firm’s size, financial leverage and offer size is not significant to the initial return. Beside this, long term performance is measured by Buy and Hold Abnormal Return with the results that initial return have a positive and significant effect to IPO exit short term performance and long run performance in LQ45 companies and the company IPO in 2011-2013 period. And the optimal timing of an IPO exit for investor or venture capitalist is long term performance. And this study also found that underwriter reputation have a negative and significant effect to initial return only in LQ45 companies, not in the company IPO 2011-2013 period, if the sample is tested separately. And other variables have the same results.
| Item Type: | Thesis (Skripsi) |
|---|---|
| Subjects: | Skripsi/Tugas Akhir Skripsi/Tugas Akhir > Fakultas Ekonomi |
| Divisions: | Fakultas Ekonomi > Manajemen |
| Depositing User: | FE Perpus |
| Date Deposited: | 23 Apr 2021 03:08 |
| Last Modified: | 23 Apr 2021 03:08 |
| URI: | http://repository.untar.ac.id/id/eprint/18518 |
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