{"id":"https://openalex.org/W4403673420","doi":"https://doi.org/10.54929/2786-5738-2024-15-03-03","title":"The Impact of Financial Disclosure on Stock Performance of Initial Public Offerings in the Indonesian Capital Market","display_name":"The Impact of Financial Disclosure on Stock Performance of Initial Public Offerings in the Indonesian Capital Market","publication_year":2024,"publication_date":"2024-10-23","ids":{"openalex":"https://openalex.org/W4403673420","doi":"https://doi.org/10.54929/2786-5738-2024-15-03-03"},"language":"en","primary_location":{"id":"doi:10.54929/2786-5738-2024-15-03-03","doi":"https://doi.org/10.54929/2786-5738-2024-15-03-03","is_oa":true,"landing_page_url":"https://doi.org/10.54929/2786-5738-2024-15-03-03","pdf_url":null,"source":{"id":"https://openalex.org/S4210191248","display_name":"\u041f\u0440\u043e\u0431\u043b\u0435\u043c\u0438 \u0441\u0443\u0447\u0430\u0441\u043d\u0438\u0445 \u0442\u0440\u0430\u043d\u0441\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439 \u0421\u0435\u0440\u0456\u044f \u0435\u043a\u043e\u043d\u043e\u043c\u0456\u043a\u0430 \u0442\u0430 \u0443\u043f\u0440\u0430\u0432\u043b\u0456\u043d\u043d\u044f","issn_l":"2786-5738","issn":["2786-5738"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj","erih-plus"],"host_organization":"https://openalex.org/I4405255707","host_organization_name":"NGO \u201cResearch And Educational Innovation Center of Social Transformations\u201d","host_organization_lineage":["https://openalex.org/I4405255707"],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"\u041f\u0440\u043e\u0431\u043b\u0435\u043c\u0438 \u0441\u0443\u0447\u0430\u0441\u043d\u0438\u0445 \u0442\u0440\u0430\u043d\u0441\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439. \u0421\u0435\u0440\u0456\u044f: \u0435\u043a\u043e\u043d\u043e\u043c\u0456\u043a\u0430 \u0442\u0430 \u0443\u043f\u0440\u0430\u0432\u043b\u0456\u043d\u043d\u044f","raw_type":"journal-article"},"parent_works":[],"lineage":["https://openalex.org/W4403673420"],"child_works_count":0,"type":"article","is_traditional":true,"indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"diamond","oa_url":"https://doi.org/10.54929/2786-5738-2024-15-03-03","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5071331479","display_name":"Arni Utamaningsih","orcid":"https://orcid.org/0009-0003-5658-6880","observed_orcids":["https://orcid.org/0009-0003-5658-6880","https://orcid.org/0009-0008-6272-1715"]},"institutions":[{"id":"https://openalex.org/I4405261658","display_name":"Politeknik Negeri Malang","ror":"https://ror.org/05n29k456","country_code":"ID","type":"education","lineage":["https://openalex.org/I4405261658"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Arni Utamaningsih","raw_affiliation_strings":["Dr. Dra. M.Si, Lecturer in Politeknik Negeri Malang (Malang State Polytechnic), Malang, Indonesia"],"raw_orcid":"https://orcid.org/0009-0008-6272-1715","affiliations":[{"raw_affiliation_string":"Dr. Dra. M.Si, Lecturer in Politeknik Negeri Malang (Malang State Polytechnic), Malang, Indonesia","institution_ids":["https://openalex.org/I4405261658"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5030618611","display_name":"Nilawati Fiernaningsih","orcid":"https://orcid.org/0000-0002-0683-8416","observed_orcids":["https://orcid.org/0000-0002-0683-8416"]},"institutions":[{"id":"https://openalex.org/I4405261658","display_name":"Politeknik Negeri Malang","ror":"https://ror.org/05n29k456","country_code":"ID","type":"education","lineage":["https://openalex.org/I4405261658"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Nilawati Fiernaningsih","raw_affiliation_strings":["Dr. Dra. M.AB., Lecturer in Politeknik Negeri Malang (Malang State Polytechnic) Malang, Indonesia"],"raw_orcid":"https://orcid.org/0000-0002-0683-8416","affiliations":[{"raw_affiliation_string":"Dr. Dra. M.AB., Lecturer in Politeknik Negeri Malang (Malang State Polytechnic) Malang, Indonesia","institution_ids":["https://openalex.org/I4405261658"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5030744989","display_name":"Siti Nurbaya","orcid":"https://orcid.org/0000-0002-0541-7222","observed_orcids":["https://orcid.org/0000-0002-0541-7222","https://orcid.org/0009-0005-3451-5189","https://orcid.org/0009-0008-6963-8105"]},"institutions":[{"id":"https://openalex.org/I4405261658","display_name":"Politeknik Negeri Malang","ror":"https://ror.org/05n29k456","country_code":"ID","type":"education","lineage":["https://openalex.org/I4405261658"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Siti Nurbaya","raw_affiliation_strings":["Dra. M.AB., Lecturer in Politeknik Negeri Malang (Malang State Polytechnic) Malang, Indonesia"],"raw_orcid":"https://orcid.org/0009-0005-3451-5189","affiliations":[{"raw_affiliation_string":"Dra. M.AB., Lecturer in Politeknik Negeri Malang (Malang State Polytechnic) Malang, Indonesia","institution_ids":["https://openalex.org/I4405261658"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5077713904","display_name":"Kartika Indah Permanasari","orcid":"https://orcid.org/0009-0008-7409-7403","observed_orcids":["https://orcid.org/0009-0008-7409-7403"]},"institutions":[{"id":"https://openalex.org/I4405261658","display_name":"Politeknik Negeri Malang","ror":"https://ror.org/05n29k456","country_code":"ID","type":"education","lineage":["https://openalex.org/I4405261658"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Kartika Indah Permanasari","raw_affiliation_strings":["SE, MM, Lecturer in Politeknik Negeri Malang (Malang State Polytechnic), Malang, Indonesia"],"raw_orcid":"https://orcid.org/0009-0008-7409-7403","affiliations":[{"raw_affiliation_string":"SE, MM, Lecturer in Politeknik Negeri Malang (Malang State Polytechnic), Malang, Indonesia","institution_ids":["https://openalex.org/I4405261658"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5087741870","display_name":"Chairul Muharis","orcid":"https://orcid.org/0009-0006-0195-5636","observed_orcids":["https://orcid.org/0009-0006-0195-5636","https://orcid.org/0009-0002-1348-7682"]},"institutions":[{"id":"https://openalex.org/I4405261658","display_name":"Politeknik Negeri Malang","ror":"https://ror.org/05n29k456","country_code":"ID","type":"education","lineage":["https://openalex.org/I4405261658"]}],"countries":["ID"],"is_corresponding":false,"raw_author_name":"Chairul Muharis","raw_affiliation_strings":["Dr. ST, MT, Lecturer in Politeknik Negeri Malang (Malang State Polytechnic) Malang, Indonesia"],"raw_orcid":"https://orcid.org/0009-0006-0195-5636","affiliations":[{"raw_affiliation_string":"Dr. ST, MT, Lecturer in Politeknik Negeri Malang (Malang State Polytechnic) Malang, Indonesia","institution_ids":["https://openalex.org/I4405261658"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":[],"corresponding_institution_ids":["https://openalex.org/I4405261658"],"apc_list":null,"apc_paid":null,"fwci":0.0,"has_fulltext":false,"cited_by_count":0,"citation_normalized_percentile":{"value":0.0,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":"15","first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.3978999853134155,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10081","display_name":"Auditing, Earnings Management, Governance","score":0.3978999853134155,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.23929999768733978,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12123","display_name":"Financial Analysis and Corporate Governance","score":0.20200000703334808,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/financial-disclosure","display_name":"financial disclosure","score":0.8399999737739563},{"id":"https://openalex.org/keywords/initial-public-offerings","display_name":"initial public offerings","score":0.968999981880188},{"id":"https://openalex.org/keywords/ipo-underpricing","display_name":"IPO underpricing","score":0.968999981880188},{"id":"https://openalex.org/keywords/stock-returns","display_name":"stock returns","score":0.6679999828338623},{"id":"https://openalex.org/keywords/ipo-proceeds","display_name":"IPO proceeds","score":0.8539999723434448},{"id":"https://openalex.org/keywords/indonesian-stock-market","display_name":"Indonesian stock market","score":0.7310000061988831}],"concepts":[{"id":"https://openalex.org/C2779207338","wikidata":"https://www.wikidata.org/wiki/Q9240","display_name":"Indonesian","level":2,"score":0.7678048014640808},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.7044717073440552},{"id":"https://openalex.org/C2780299701","wikidata":"https://www.wikidata.org/wiki/Q475000","display_name":"Stock market","level":3,"score":0.5146647095680237},{"id":"https://openalex.org/C143910263","wikidata":"https://www.wikidata.org/wiki/Q750458","display_name":"Capital market","level":2,"score":0.4970763027667999},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.49379071593284607},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.46528711915016174},{"id":"https://openalex.org/C200870193","wikidata":"https://www.wikidata.org/wiki/Q11691","display_name":"Stock exchange","level":2,"score":0.46492862701416016},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.3463178277015686},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.25533732771873474},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C86803240","wikidata":"https://www.wikidata.org/wiki/Q420","display_name":"Biology","level":0,"score":0.0},{"id":"https://openalex.org/C151730666","wikidata":"https://www.wikidata.org/wiki/Q7205","display_name":"Paleontology","level":1,"score":0.0},{"id":"https://openalex.org/C2780762169","wikidata":"https://www.wikidata.org/wiki/Q5905368","display_name":"Horse","level":2,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.54929/2786-5738-2024-15-03-03","doi":"https://doi.org/10.54929/2786-5738-2024-15-03-03","is_oa":true,"landing_page_url":"https://doi.org/10.54929/2786-5738-2024-15-03-03","pdf_url":null,"source":{"id":"https://openalex.org/S4210191248","display_name":"\u041f\u0440\u043e\u0431\u043b\u0435\u043c\u0438 \u0441\u0443\u0447\u0430\u0441\u043d\u0438\u0445 \u0442\u0440\u0430\u043d\u0441\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439 \u0421\u0435\u0440\u0456\u044f \u0435\u043a\u043e\u043d\u043e\u043c\u0456\u043a\u0430 \u0442\u0430 \u0443\u043f\u0440\u0430\u0432\u043b\u0456\u043d\u043d\u044f","issn_l":"2786-5738","issn":["2786-5738"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj","erih-plus"],"host_organization":"https://openalex.org/I4405255707","host_organization_name":"NGO \u201cResearch And Educational Innovation Center of Social Transformations\u201d","host_organization_lineage":["https://openalex.org/I4405255707"],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"\u041f\u0440\u043e\u0431\u043b\u0435\u043c\u0438 \u0441\u0443\u0447\u0430\u0441\u043d\u0438\u0445 \u0442\u0440\u0430\u043d\u0441\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439. \u0421\u0435\u0440\u0456\u044f: \u0435\u043a\u043e\u043d\u043e\u043c\u0456\u043a\u0430 \u0442\u0430 \u0443\u043f\u0440\u0430\u0432\u043b\u0456\u043d\u043d\u044f","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:194b95fb111547abb8278b4fbfee37a4","doi":null,"is_oa":true,"landing_page_url":"https://doaj.org/article/194b95fb111547abb8278b4fbfee37a4","pdf_url":null,"source":{"id":"https://openalex.org/S4306401280","display_name":"DOAJ (DOAJ: Directory of Open Access Journals)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"\u041f\u0440\u043e\u0431\u043b\u0435\u043c\u0438 \u0441\u0443\u0447\u0430\u0441\u043d\u0438\u0445 \u0442\u0440\u0430\u043d\u0441\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439. \u0421\u0435\u0440\u0456\u044f: \u0435\u043a\u043e\u043d\u043e\u043c\u0456\u043a\u0430 \u0442\u0430 \u0443\u043f\u0440\u0430\u0432\u043b\u0456\u043d\u043d\u044f, Iss 15 (2024)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.54929/2786-5738-2024-15-03-03","doi":"https://doi.org/10.54929/2786-5738-2024-15-03-03","is_oa":true,"landing_page_url":"https://doi.org/10.54929/2786-5738-2024-15-03-03","pdf_url":null,"source":{"id":"https://openalex.org/S4210191248","display_name":"\u041f\u0440\u043e\u0431\u043b\u0435\u043c\u0438 \u0441\u0443\u0447\u0430\u0441\u043d\u0438\u0445 \u0442\u0440\u0430\u043d\u0441\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439 \u0421\u0435\u0440\u0456\u044f \u0435\u043a\u043e\u043d\u043e\u043c\u0456\u043a\u0430 \u0442\u0430 \u0443\u043f\u0440\u0430\u0432\u043b\u0456\u043d\u043d\u044f","issn_l":"2786-5738","issn":["2786-5738"],"is_oa":true,"is_in_doaj":true,"is_core":false,"listed_in":["doaj","erih-plus"],"host_organization":"https://openalex.org/I4405255707","host_organization_name":"NGO \u201cResearch And Educational Innovation Center of Social Transformations\u201d","host_organization_lineage":["https://openalex.org/I4405255707"],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"\u041f\u0440\u043e\u0431\u043b\u0435\u043c\u0438 \u0441\u0443\u0447\u0430\u0441\u043d\u0438\u0445 \u0442\u0440\u0430\u043d\u0441\u0444\u043e\u0440\u043c\u0430\u0446\u0456\u0439. \u0421\u0435\u0440\u0456\u044f: \u0435\u043a\u043e\u043d\u043e\u043c\u0456\u043a\u0430 \u0442\u0430 \u0443\u043f\u0440\u0430\u0432\u043b\u0456\u043d\u043d\u044f","raw_type":"journal-article"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":15,"referenced_works":["https://openalex.org/W1538620082","https://openalex.org/W2040246691","https://openalex.org/W2151291049","https://openalex.org/W2174864229","https://openalex.org/W2257095405","https://openalex.org/W2557480544","https://openalex.org/W2599644055","https://openalex.org/W2609147293","https://openalex.org/W2883636757","https://openalex.org/W2949389392","https://openalex.org/W3122304594","https://openalex.org/W3202487137","https://openalex.org/W4200307609","https://openalex.org/W4319316449","https://openalex.org/W4399920428"],"related_works":["https://openalex.org/W2744530409","https://openalex.org/W4413945631","https://openalex.org/W4416822886","https://openalex.org/W2554660292","https://openalex.org/W2924355660","https://openalex.org/W1582324172","https://openalex.org/W4399920428","https://openalex.org/W1931914995","https://openalex.org/W3011495878","https://openalex.org/W1976335457"],"abstract_inverted_index":{"This":[0,40,69],"research":[1,41,57,70,103,144,188],"aims":[2],"to":[3,93],"explore":[4],"whether":[5,18,31],"the":[6,21,24,34,51,79,81,84,87,90,94,97,106,109,117,120,126,129,135,138,167,180,187],"proceeds,":[7,149],"age,":[8,150],"revenue,":[9,151],"and":[10,28,30,38,96,134,152,164,176],"underwriter":[11,153,177],"rating":[12],"of":[13,83,89,99,108,119,128,137,155,166,179],"IPO":[14,85,156,168,181],"companies":[15,91,157,169],"affect":[16],"disclosure;":[17],"disclosure":[19,37,110,121,192],"mediates":[20,33],"relationship":[22,35],"between":[23,36,60],"four":[25,72],"exogenous":[26,74],"variables":[27],"underpricing;":[29],"underpricing":[32,130,139],"returns.":[39],"uses":[42],"Partial":[43],"Least":[44],"Squares":[45],"Structural":[46],"Equation":[47],"Modelling":[48],"(PLS-SEM)":[49],"as":[50],"data":[52,66],"processing":[53,67],"method.":[54,68],"Since":[55],"this":[56],"examines":[58],"interactions":[59],"variables,":[61],"PLS-SEM":[62],"is":[63,112,123,132,141],"an":[64],"effective":[65],"identifies":[71],"key":[73],"variables:":[75],"funds":[76],"raised":[77],"from":[78],"IPO,":[80,95],"age":[82,165],"company,":[86],"income":[88],"prior":[92],"ranking":[98,154,178],"underwriting":[100],"companies.":[101],"The":[102,143],"finds":[104,146,189],"that":[105,147,190],"R-squared":[107,127],"variable":[111,122,131,140],"0.0037,":[113],"or":[114],"3.7%,":[115],"while":[116,173],"Q-squared":[118,136],"0.0039.":[124],"Meanwhile,":[125],"0.435,":[133],"0.456.":[142],"also":[145],"higher":[148,162,174,191],"will":[158,170,183,193],"reduce":[159,171],"disclosure.":[160],"Conversely,":[161],"proceeds":[163],"underpricing,":[172],"revenue":[175],"company":[182],"increase":[184,194],"underpricing.":[185,195],"Finally,":[186],"\u0421\u0442\u0430\u0442\u0442\u044e":[196],"\u0440\u043e\u0437\u043c\u0456\u0449\u0435\u043d\u043e":[197],"\u0432":[198],"\u0440\u0430\u043c\u043a\u0430\u0445":[199],"\u0433\u0440\u0430\u043d\u0442\u043e\u0432\u043e\u0457":[200],"\u043f\u0440\u043e\u0433\u0440\u0430\u043c\u0438":[201],"\u0413\u041e":[202],"\u00ab\u041d\u0410\u0423\u041a\u041e\u0412\u041e-\u041e\u0421\u0412\u0406\u0422\u041d\u0406\u0419":[203],"\u0406\u041d\u041d\u041e\u0412\u0410-\u0426\u0406\u0419\u041d\u0418\u0419":[204],"\u0426\u0415\u041d\u0422\u0420":[205],"\u0421\u0423\u0421\u041f\u0406\u041b\u042c\u041d\u0418\u0425":[206],"\u0422\u0420\u0410\u041d\u0421\u0424\u041e\u0420\u041c\u0410\u0426\u0406\u0419\u00bb":[207],"\u0437\u0430":[208],"\u043f\u0456\u0434\u0441\u0443\u043c\u043a\u0430\u043c\u0438":[209],"\u041a\u043e\u043d\u043a\u0443\u0440\u0441\u0443":[210],"\u0456\u043d\u0434\u0438\u0432\u0456\u0434\u0443\u0430\u043b\u044c\u043d\u0438\u0445\u0433\u0440\u0430\u043d\u0442\u0456\u0432":[211],"\u00ab\u0406\u043d\u0456\u0446\u0456\u0430\u0442\u0438\u0432\u0430":[212],"\u043f\u0456\u0434\u0442\u0440\u0438\u043c\u043a\u0438":[213],"\u043d\u0430\u0443\u043a\u043e\u0432\u0446\u0456\u0432\u00bb":[214]},"counts_by_year":[],"updated_date":"2026-11-08T12:12:28.789561","created_date":"2024-10-24T00:00:00"}
