Price Stabilization and Ipo Underpricing: an Empirical Study in the Indonesian Stock Exchange

We attempt to investigate IPO underpricing and stabilization activities. We find IPOunderpricing of around 25% in the Indonesia market. Return distribution for the first 30-tradingdays shows a positive skew, the distribution becomes closer to normality as the periodlengthens. We then develop and test five algorithms to detect IPO intervention. An importantgoal of this paper is to develop an algorithm that will be able to detect IPO intervention usingpublic data. We find that the number of closing prices that are equal to the offer prices and theskewness of the IPO return in the first 30-trading days are the ‘best' stabilization measures.Having found “the best measures”, then we investigate under what conditions IPO interventionis more intensive. We find that underwriters tend to stabilize more on more expensive IPOs

Bank Risk and Market Discipline

This paper investigates the issue of bank risk taking. Specifically we investigate two main issues: (1) determinants of bank risk, and (2) market discipline to the banks either in implicit, explicit guarantee systems, and all periods. Using Indonesian data, we find that domestic, foreign, and ownership concentration have positive impact on bank risk. Bank shareholders engage in entrenchment behaviour, rather than convergence behaviour. We further find that charter value and compliance to regulation have negative impact on bank risk. Next, we find that market disciplines the banks. Market disciplines the banks at thesame degree in implicit and explicit deposit guarantee systems. Our findings highlight the importance of paying close attention to banks ownership, charter value, and compliance to regulation. Furthermore, since we find that market disciplines the Banks at the same degree in explicit and implicit guarantee systems, we need to investigate this issue further.This finding highlights research potential in the future: to investigate disciplining behaviour from various types of depositors

Optically Pumped Intensive Light Amplification from a Blue Oligomer

We demonstrated the time-resolved dynamics of laser action from the conductive oligomer (CO) 1,4-Bis(9-ethyl-3-carbazo-vinylene)-9,9-dihexyl-fluorene (BECV-DHF). Absorption and fluorescence spectra were studied for BECV-DHF in different solvents under a wide range of concentrations. The Fourier-transform infrared spectroscopy (FTIR) spectrum was measured using simulation and experiments. The Ultraviolet-Visible (UV-VIS) spectra of the BECV-DHF were simulated in two different solutions. This CO formed a dimer and had two vibration bands in nonpolar solvents, partially dissolved in polar protic solvents, and created an H-type aggregate in polar aprotic solvents. BECV-DHF produced amplified spontaneous emission (ASE) at 464 nm in many solvents. The high efficiency of ASE is due to the waveguiding and self-assembly nature of the oligomer, which is very rare for optically pumped systems. However, BECV-DHF did not produce ASE in polar protic solvents. BECV-DHF produced ASE in both longitudinal and transverse pumping, and the full-width half maximum (FWHM) was 4 nm and 8 nm respectively for different solvents, such as toluene and acetone. The CO had a very low threshold pump energy (~0.5 mJ). The ASE efficiency was approximately 20%. The time-resolved spectroscopy (TRS) studies showed a temporal Gaussian-shaped ASE output from this CO. BECV-DHF shows remarkably high stability compare to the conjugated polymer (CP) PFO-co-pX

Using a Spectrofluorometer for Resonance Raman Spectra of Organic Molecules

Scattering (Rayleigh and Raman) and fluorescence are two common light signals that frequently occur together, confusing the researchers and graduate students experimenting in molecular spectroscopy laboratories. This report is a brief study presenting a clear discrimination between the two signals mentioned, employing a common spectrofluorometer such as the PerkinElmer LS 55. Even better, the resonance Raman signal of a molecule (e.g., acetone) can be obtained elegantly using the same instrument

Role of Cytochrome P450 Hydroxylase in the Decreased Accumulation of Vitamin E in Muscle from Turkeys Compared to that from Chickens

U ovom diplomskom radu, teoretski i eksperimentalno, opisano je i provedeno ispitivanje sposobnosti za nerazorno ultrazvučno mjerenje debljine stijenke. U teorijskom dijela rada opisane su glavne značajke ultrazvučne metode zajedno s tehničkim zahtjevim za ultrazvučno mjerenje debljine. Naglasak je stavljen na specifičnostima ispitnih uzoraka, koji utječu na točnost mjerenja. Detaljnije je opisana tehnika odjeka, kao najčešće korištena (uključujući i eksperimentalnio dio rada) tehnika mjerenja debljine stijenke. Teorijski dio obuhvaća i pregled svih relevantnih normi za ispitivanje sposobnosti te prema kojima je osmišljena međulaboratorijska usporedba u eksperimentalnom dijelu. Također, detaljnije je prikazan način provođenja ispitivanja sposobnosti s istaknutim važnostima i razlozima njihove provedbe. U eksperimentalnom dijelu rada osmišljena je shema ispitivanja sposobnosti, provedena su mjerenja na 4 uzorka od strane 5 laboratorija te su statistički obrađeni dobiveni rezultati prema normi HRN EN ISO/IEC 17043:2010. Obuhvaćeni su svi važni aspekti ispitivanja sposobnosti u ultrazvučnom mjerenju debljina stijenke, kao što su korišteni ispitni uzorci, postupak ispitivanja i postupak ocjenjivanja njihove osposobljenosti i dokazivanja pouzdanosti njihovih rezultata.In this thesis, theoretically and experimentally, a proficiency testing of ultrasonic thickness measurement was described and performed. The theoretical part of the paper describes the main characteristics of the ultrasonic method along with the technical requirements for ultrasonic thickness measurement. Focus is placed on the specifics of the specimens, which affect the accuracy of the measurement. In more detail, the pulse-echo technique is described, as the most commonly used (including the experimental part of the paper) thickness measurement technique. The theoretical part also includes an overview of all relevant standards for proficiency testing and according to which an interlaboratory comparison in the experimental part is designed. Also, the importance and reasons for the implementation of proficiency testing are described in more detail. In the experimental part of the thesis, the proficiency testing scheme was designed, measurements on 4 samples by 5 laboratories were performed and the obtained results were statistically processed, according to the standard HRN EN ISO/IEC 17043: 2010. It also covers all important aspects of proficiency testing of ultrasonic thickness measurements, such as the specimens used, the test procedure and the assessment procedure for assessing their competence and proving the reliability of their results