The Effect of Benchmark, Money Raised, Market Value, and Magnitude of Underpricing Towards Abnormal Return Shares on the Long-Term Performance of Initial Public Offerings in Indonesia

Abstract

This research aimed to look into the elements that affect stock irregularity on long-term stock returns after 3 years of IPOs (IPOs). The purposive sampling method was used to choose a sample of non-financial enterprises for this study, including as many as 205 non-financial businesses during the 2010-2020 period. The analysis was conducted using regression analysis. The findings revealed that all variable independents have a significant relationship with Abnormal Return, The four independent variables can explain 42.1 percent of the variation in the dependent variable. This study can provide information to investor in making stock investment decision.