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This is a Quantitative Study study.

September 30, 2025Modern FinanceOpen Access

The effect of underwriter reputation and market sentiment on IPO underpricing: Evidence from Indonesia

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Underwriter reputation and market sentiment significantly influence IPO underpricing in Indonesia's market, showing a complex interplay with external factors.
The analysis covers 424 Indonesian IPOs from 2016 to 2024, revealing a substantial negative impact of these two factors on underpricing levels.
Differentiated data shows that the adverse effect persists during the COVID-19 pandemic, highlighting the need for investors to consider market sentiment in their decisions.
Factors like Board size negatively impact underpricing, while company size has a contrasting positive effect, adding depth to investor strategies.

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Implication

Analysis reveals that underwriter reputation and market sentiment significantly impact IPO underpricing in Indonesia's market, suggesting strategic investor choices.

Cite This Study

Ariyani et al. (2025) studied this question.

synapsesocial.com/papers/68dc1e358a7d58c25ebb195b https://doi.org/10.61351/mf.v3i3.296

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Implication

Analysis reveals that underwriter reputation and market sentiment significantly impact IPO underpricing in Indonesia's market, suggesting strategic investor choices.

The effect of underwriter reputation and market sentiment on IPO underpricing: Evidence from Indonesia

Key Points

Discussion

Implication

Cite This Study

The effect of underwriter reputation and market sentiment on IPO underpricing: Evidence from Indonesia

Key Points

Discussion

Implication

Cite This Study

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