This paper investigates the link between intended use of proceeds and the decline in post-issue operating performance of IPO firms. It distinguishes between capital and strategic motives and employs quantile regressions to examine the Indonesian equity market over the period of 2000-2010. The overall evidence shows that post-issue performance can be explained by firm motivation to IPO issue with the capital motive being the critical driver of good performance in Indonesia. Investment in fixed assets and in stock market shares lead to better performance while other usages lead to poor performance. The results are robust to accounting for ownership structure and to alternative classifications of IPO intent. These results have policy implications for the management of IPO proceeds.

Humans in meeting the needs of their lives need natural resources, in the form of land, water and air, and other natural resources that are included in renewable and non-renewable natural resources. However, it must be realized that the natural resources that humans need have limitations in many ways, namely limitations regarding their availability in quantity and quality. Certain natural resources also have limitations according to space and time. The government needs to take alternative steps to determine the potential and problems in the use of natural resources. The purpose of this study is to find out how the role of the government through its policies in managing the environment. This research uses the descriptive analysis method. The results of the study indicate that the creation of a fair and firm environmental law enforcement to manage natural resources and the environment in a sustainable manner with the support of quality human resources, the expansion of the application of environmental ethics, and socio-cultural assimilation are increasingly stable.

This article examines the role played by primary and secondary equity markets in economic growth. It departs from standard literature to integrate both markets and to explicitly acknowledge the primary equity market. By employing a variety of dynamic panel estimators for 54 countries over the period 1995‐2010, we show that the primary equity market is not an important determinant of economic growth, although it facilitates the development of the secondary market. This study also confirms the importance of liquidity provided by the secondary market. The evidence here calls for further investigation into the capital‐raising function of equity markets.

Objective: To prove the success of supportive psychotherapy thatwas provided as a distress therapy on advanced cervical cancer.Knowing the prevalence of distress type of depression in patientwith epithelial cervical cancer, proving the benefits of psychotherapysupportive for distress can decreasing cortisol level in cervicalcancer patient, can assess distress thermometer score, HAM-D17score and scoring incident predictors of distress with depressiontype.Methods: There were 32 subjects from 71 advanced cervical cancerpatients had mild-moderate depression. Then randomizationblocking was performed to determine a subject who entered thetreatment group (n = 16) who got supportive psychotherapy orcontrol group who got common psychotherapy (n = 16). All ofparticipants assessed the distress level with cortisol value, distressthermometer score, and HAM-D17 score before and after they gotsupportive psychotherapy.Results: After the intervention of psychotherapy in the treatmentgroup decreased HAM-D17 score, the average decline 7.53 (SB 3.34).The mean decreasing in the control group was 3.98 (SB 2.85). Thereis a significant difference in mean reduction in HAM-D17 scores ontreatment and control groups with p = 0.003 (p <0.005). There wasdecreasing blood cortisol level in the treatment group amounted to39.43, while the control group there was a drop of 1.59. The reductionof cortisol level in the treatment group and the control has a pvalue0.302. After got supportive psychotherapy, found a decreasingthe average value of the thermometer distress in the treatmentgroup 3.02 and the control group 2.51, with a p value more than0.492.Conclusion: There were 45% of cervical cancer patients in the clinicexperiencing distress disorder with depressive type. The bloodcortisol level could be decreased by giving supportive psychotherapywith a mean decrease of 39.43 nmol/l. There was a significantreduction in the level of depression (HAM-D17 score) of 7.53 pointsand distress thermometer impairment by 3 points after givensupportive psychotherapy. Obtained scoring predictors for theoccurrence of distress type of depression in patients with advancedcervical cancer with a sensitivity of 46.15% and a specificity of89.47%.[Indones J Obstet Gynecol 2018; 6-3: 179-187]Keywords: cervical cancer, cortisol, distress, distress thermometer,HAM-D17 score

Purpose The purpose of this paper is to investigate the real effects of primary and secondary equity markets on the post-issue operating performance of initial public offering (IPO) firms. Design/methodology/approach The author utilizes the intended use of proceeds as a proxy variable for the primary market and the investment-to-price sensitivity and the informativeness of stock prices as alternative proxy variables for the secondary market. The compositional data, and non-parametric quantile regressions which are more robust to outliers than standard least square regressions, are employed for Indonesian equity market over the period of 1999-2013. Findings While confirming that firm operating performance can be explained by the firm’s motivation to go public, the author also shows that the operating performance is positively affected by investment-to-price sensitivity and negatively affected by stock price informativeness. The stock prices affect investment decisions by the way that the more liquid a stock is, the more informative its price is, and the more relevant stock prices are in investment decisions. These findings still hold after controlling for ownership structure. Originality/value Departing from the existing literature, the author investigates the role of primary and secondary equity markets for firm performance in an integrated framework because both markets interact closely in reality. The author shows that public listed firms can benefit both from the capital-raising function of the primary market and from the informational role of the stock prices of the secondary market. A measure of stock price informativeness, 1−R2, however, must be understood in the context of thin trading in the sense that the level of liquidity affects the level of stock price informativeness.