This paper aimed to explore the behavior of initial return in Indonesia
Market from 2000 to 2017. Initial Return is calculated by closing price on the
first day of trading in stock market compared to price of Initial Public
Offering (IPO). Furthermore, Completely Randomized Design is used to find the
differences of initial return between industries and yearly. The result showed
this research found average Initial Return of 31.89% for period 2000 to 2017
that as IPO Company of 355. There is no difference between initial return of
industries, but there is difference of initial return in each year (yearly).
This research using secondary data. Data Period is 2000 to 2017, and might be
found missing data. The people has information to decide buying stocks.
JEL classification numbers: G32
Keywords: behavior, initial return, Indonesia Market, monthly, Initial