Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022)

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Does Warrant Strategy Along with IPO Provide Better Performance?

Authors
Yuli Soesetio1, *, Dyah Arini Rudiningtyas2, Retno Nur Habibah1
1Department of Management, Faculty of Economic and Business, Universitas Negeri Malang, Malang, Indonesia
2Department of Accounting, Faculty of Economic, Universitas Islam Malang, Malang, Indonesia
*Corresponding author. Email: yuli.soesetio.fe@um.ac.id
Corresponding Author
Yuli Soesetio
Available Online 16 May 2023.
DOI
10.2991/978-94-6463-178-4_14How to use a DOI?
Keywords
Initial Public Offering; PIPO; SIPO; CR; DER
Abstract

An Initial Public Offering (IPO) can provide limited benefits for companies in the short to medium term. This study aims to evaluate the use of the Package IPO (PIPO) and Shares-only IPO (SIPO) strategy that accompanies the IPO process of companies listed on the Indonesia Stock Exchange (IDX). The sample used in this study was all companies that carried out IPOs for the period 2010–2016 as many as 155 companies. Using Paired Sample T-test and Wilcoxon Signed Rank Test the results showed that in the short-term there was a significant difference in financial performance of leverage (DER) and working capital (CR) before and after the IPO, but only in the medium-term CR performance did not show a significant difference. Meanwhile, the use of warrant inclusion strategies provides quite diverse results. When the company uses the SIPO strategy, it shows a significant difference in the company's performance in the short- and medium-term. In contrast, the use of other strategies during IPOs in the short- and medium-term does not show a difference in performance.

Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022)
Series
Advances in Economics, Business and Management Research
Publication Date
16 May 2023
ISBN
978-94-6463-178-4
ISSN
2352-5428
DOI
10.2991/978-94-6463-178-4_14How to use a DOI?
Copyright
© 2023 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Yuli Soesetio
AU  - Dyah Arini Rudiningtyas
AU  - Retno Nur Habibah
PY  - 2023
DA  - 2023/05/16
TI  - Does Warrant Strategy Along with IPO Provide Better Performance?
BT  - Proceedings of the BISTIC Business Innovation Sustainability and Technology International Conference (BISTIC 2022)
PB  - Atlantis Press
SP  - 130
EP  - 139
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-178-4_14
DO  - 10.2991/978-94-6463-178-4_14
ID  - Soesetio2023
ER  -