The purpose of this study is to investigate how risk information disclosed in prospectus influences the initial returns of initial public offerings (IPOs) in Indonesia. This study collected 62 sample IPOs offered in the Indonesian Stock Exchange from 2017–2018. Ordinary least squares was performed to test the association between risk disclosure and initial returns. Results indicate that prospectus provides risk information associated with initial returns. Both qualitative and quantitative dimensions have a significant negative impact on the initial returns. It can be concluded that risk information has an important role in the underpricing phenomenon. The study has extended the available literature by investigating risk disclosure from a dual perspective. Moreover, qualitative and quantitative assessments both have a direct impact on the initial returns and must be considered in investment decision making. Keywords: Risk, IPO, underpricing, initial returns

This study aims to investigate the level of conformity of economic, social, and environmental information on sustainability report in Indonesia as per GRI G4 guidelines. Content analysis has been applied to a sample of 29 companies listed in the Indonesia Stock Exchange. Conformity and disclosure quality were analyzed descriptively using a specific scoring system for each dimensions. The findings of this research show that the level of conformity of GRI indicators in Indonesia is quite low at 18,9%. However, the weight of information disclosed by companies is relatively high, at 59,9% of the information. This wide gap occurred caused by the fact that many companies disclose only a few indicators of GRI G4. These findings indicate the GRI G4 Guidelines is not really suitable for company in Indonesia. One of the primary focuses of this research is the applicability of GRI indicators. However, not even a single study found while reviewing literature that studied the applicability GRI indicators in a country. Conformity can become a new topic when studying accounting information disclosure.

The paper presents the review of the value relevance literatures used Ohlson model (1995). The popularity of value relevance topic nowadays is principally driven by the adoption IFRS which changed how companies measure its income and assets. Although this topic is still in debate whether it useful or not, this paper tried to conclude a summary from many prior value relevance researches. First, I seek to review some of the significant literature on value relevance during 2009-2019. The emphasis is on results and empirical contributions relating incremental value relevance. The second part of this paper is discussion about eight different studies from more than 10 countries about evidence of value relevance phenomenon in their setting. This paper finds that the concept of value relevance really exists in many countries but it is deteriorating / declining over the period. Further research could test other information to prevent this deterioration of value relevance such as future prospect attributes rather than historical information only

This research was conducted to examine the effect of Return on Assets, Debt to Equity Ratio and Price to Book Value on LQ45 Company's stock returns listed on the Indonesia Stock Exchange in the period of 2016 - 2018. Data collection techniques used were documentation using secondary data. The data analysis method used is a quantitative method with associative and descriptive method approaches. The analysis technique used is multiple regression and hypothesis testing using partial t-test and F test simultaneously with a significance level of 5%. The results showed that Return on Assets had a negative and significant effect on stock returns with a significance value of 0,000 and had a t-value of -4.176 (greater than t table-1.98447). Price to Book Value has a positive and significant effect on stock returns with a significance value of 0.010 and a t value of 2.623. All independent variables simultaneously proved to have a significant effect on stock returns with a significance value of 0.001.

The purpose of this study is to examine the underpricing phenomenon from IPO firms listed in Indonesia Stock Exchange during the COVID-19 pandemic. Using purposive sampling method, 34 IPO firms after the announcement of pandemic COVID-19 were selected as research samples. The IPO stock closing prices and returns on days 1, 5, 10, 15, and 20 were analyzed using paired sample t-test. The findings show underpricing phenomenon still occurred during the pandemic period. However, the underpricing only documented statistically significant on the T1 of the trading day. After the first day of trading, the stock’s returns consistently declined and were proved statistically insignificant at T5, T10, T15, and T20.The purpose of this study is to examine the underpricing phenomenon from IPO firms listed in Indonesia Stock Exchange during the COVID-19 pandemic. Using purposive sampling method, 34 IPO firms after the announcement of pandemic COVID-19 were selected as research samples. The IPO stock closing prices and returns on days 1, 5, 10, 15, and 20 were analyzed using paired sample t-test. The findings show underpricing phenomenon still occurred during the pandemic period. However, the underpricing only documented statistically significant on the T1 of the trading day. After the first day of trading, the stock’s returns consistently declined and were proved statistically insignificant at T5, T10, T15, and T20.