THE EFFECT OF MACROECONOMICS FACTORS ON THE NUMBER OF IPOs IN INDONESIA｜國立臺灣科技大學博碩士論文系統

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研究生：	Arnold Chriestanto Arnold Chriestanto
論文名稱：	THE EFFECT OF MACROECONOMICS FACTORS ON THE NUMBER OF IPOs IN INDONESIA THE EFFECT OF MACROECONOMICS FACTORS ON THE NUMBER OF IPOs IN INDONESIA
指導教授：	陳俊男 Chun-Nan Chen
口試委員:	林軒竹 Hsuan-Chun Lin 劉代洋 Day-Yang Liu 陳嬿如 Yen-Ru Chen
學位類別：	碩士 Master
系所名稱：	管理學院 - 財務金融研究所 Graduate Institute of Finance
論文出版年：	2018
畢業學年度：	106
語文別：	英文
論文頁數：	60
中文關鍵詞：	Macroeconomics 、The Number of IPOs 、Tobit Regression 、Indonesia
外文關鍵詞：	Macroeconomics, The Number of IPOs, Tobit Regression, Indonesia
相關次數：	點閱：356 下載：0
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This study aims to look if there is any significant influence of the macroeconomic factor on the number of IPOs in Indonesia. Macroeconomic variables used are foreign net equity, industrial production, stock market index, and interest rate. Data sample studied are companies doing IPOs in Indonesia and the macroeconomic factors from 2007 until 2016. The methodology used to test the effect of macroeconomic variables on the number of IPOs is Tobit regression. Dummy variables are used to test the year effect. The result showed that there is a positive significant relationship between industrial production and the numbers of IPOs and between interest rate and the number of IPOs, and the other variables are insignificant. There is no yearly effect found from the year 2007 until 2016.

ABSTRACT    i
ACKNOWLEDMENTS    ii
TABLE OF CONTENTS    iii
LIST OF TABLES    v
LIST OF FIGURES    vi
CHAPTER I. INTRODUCTION    1
1.1    Motivation and Background    1
1.2    Research Objectives    3
1.3    Research Concept and Flowchart    3
1.4    The Limitation of the Research    4
CHAPTER II. LITERATURE REVIEW    5
2.1    Initial Public Offering    5
2.2    The Determinant of IPOs    7
2.2.1    Foreign Net Equity    7
2.2.2    Industrial Production    7
2.2.3    Stock Market Index    8
2.2.4    Interest Rate    9
2.3    Tobit Regression    9
2.4    Summary of Literature Review    10
CHAPTER III. DATA & METHODOLOGY    12
3.1    Empirical Data    12
3.2    Methodology    13
CHAPTER IV. EMPIRICAL STUDY    17
4.1    Unit Root Testing    17
4.2    Descriptive Statistics    21
4.3    Tobit Regression    22
4.4    Discussion of The Result    23
4.4.1    Dummy Variable    23
4.4.2    Foreign Net Equity on The Number of IPOs    23
4.4.3    Industrial Production on The Number of IPOs    24
4.4.4    Stock Market Index on The Number of IPOs    24
4.4.5    Interest Rate on The Number of IPOs    24
4.5    Sensitivity Analysis    25
4.5.1    First Sensitivity Analysis    25
4.5.2    Second Sensitivity Analysis    26
4.5.3    Third Sensitivity Analysis    27
CHAPTER V. CONCLUSION & SUGGESTION    29
5.1    Conclusion    29
5.2    Suggestion    30
APPENDIX    31
Appendix 1 List of Companies doing IPOs from 2000 to 2016    31
Appendix 2 Descriptive Statistic Result    36
Appendix 3 ADF Test Result    37
Appendix 4 Tobit Regression Result    44
Appendix 5 Sensitivity Analysis    45
References    49


                                

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全文公開日期 2023/07/06 (校內網路)
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