Underpricing and Intellectual Capital Disclosure: Evidence from Indonesia

被引：2
|
作者：
Widarjo, Wahyu [1 ]
Rahmawati [1 ]
Bandi [1 ]
Widagdo, Ari Kuncara [1 ]
机构：
[1] Univ Sebelas Maret, Fac Econ & Business, Dept Accounting, Jl Ir Sutami 36-A, Surakarta 57126, Indonesia
来源：
GLOBAL BUSINESS REVIEW | 2019年
关键词：
Initial public offering; intellectual capital disclosure; underpricing; INVESTMENT BANKING; IPO; QUALITY; CERTIFICATION; REPUTATION; OWNERSHIP; OFFERINGS; IMPACT; COSTS;
D O I：
10.1177/1465750319857017
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
In this study, we investigate the relationship between intellectual capital disclosure and underpricing. We did interviews and gave questionnaires to practitioners and academics to develop intellectual capital disclosure measurement methods (in this case, it is the weighted disclosure index). The analysis result of 189 companies which did initial public offerings in Indonesia during 2000-2014 shows that intellectual capital disclosure affects negatively on underpricing. It indicates that intellectual capital disclosure can reduce asymmetry information between the issuer and the potential investor. In addition, intellectual capital disclosure can assist potential investors in assessing the company's quality and prospects.
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页数：13
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