Pengaruh motif IPO dan total aset emiten terhadap herding behavior pada pasar modal Indonesia

Abstract

A B S T R A C T IPO (Initial PublicOfferings

Herding Behavior in the Sharia Capital Market on Investment Decisions

“…Consequently, investors were inclined to gravitate towards larger companies for investment opportunities. Hence, as a company expanded in size, it attracted a greater interest from investors looking to invest in its shares compared to smaller companies (Arjoon et al 2020;Armansyah 2015;Demirer, Lee, and Lien 2015). Smaller companies often exhibited limited transparency, meaning publicly accessible information was scarce regarding them.…”

“…Herding could occur between large stocks because many investment professionals, such as fund managers, might be restricted from investing in these stocks for regulatory purposes (Arjoon et al 2020). On the first day of stock trading, it could be seen that herding behaviour was driven by the size of the company (Armansyah 2015).…”

“…As a result, these conditions led to herding behaviour in making investment decisions. Under Initial Public Offering (IPO) conditions, investors tended to look at the total assets owned by the company, thereby triggering an increase in herding behaviour (Armansyah 2015).…”