The Initial Public Offerings of State-Owned Enterprises

Despite the extensive literature on the stock performance of privately-owned companies, study examines the stock performance of privatized state-owned enterprises is scarce. This book empirically examines privatization of state-owned enterprises through IPOs. The focus is on the stock performance of state-owned enterprises IPOs in the short-run and the long-run, based on a sample of 14 state-owned enterprises IPOs in 1991-2007. Due to the fact that state-owned enterprises are generally market leaders in strategic and competitive industry, such as telecommunications, banking, energy, mining and infrastructure with long operating histories, state-owned enterprises IPOs are larger than typical companies IPOs. Therefore, this book provides insight on the stock performance of the larger and established company in Indonesia stock exchange. This book was written for stock investors, stock traders, science education researchers and anybody who are interested in stock performance.