scholarly journals PENGARUH RETURN ON ASSET, FINANCIAL LEVERAGE, DAN UKURAN PERUSAHAAN TERHADAPUNDERPRICING PADA PERUSAHAAN YANG MELAKUKAN INITIAL PUBLIC OFFERING (IPO) DI BURSAEFEK INDONESIA

2016 ◽  
Vol 11 (2) ◽  
pp. 35 ◽  
Author(s):  
Putu Widhiastina ◽  
Rida Prihatni
Keyword(s):  
Initial Public Offering ◽  
Stock Exchange ◽  
Hypothesis Test ◽  
Company Size ◽  
Financial Leverage ◽  
Return On Assets ◽  
Result Show ◽  
The Difference ◽  
Public Offering ◽  
Offering Price

This study aimed to determine the influence of The Influence of return on asset, financial leverage, and size of company on underpricing. Underpricing is measured by division the difference between clossing prices and offering price with offering price, return on asset is measured by division net profit with total asset, financial leverage is measured by division total debt with total equity and size of company is mesured with total sales in annual report company. This study took a sample of initial public offering company listed in Indonesia Stock Exchange during the years 2010-2013. The data obtained by purposive sampling techniques and using multiple regression analysis. Simultaneous hypothesis testing result show that return on asset, financial leverage and company size simultaneously affect the underpricing. The partial hypothesis test result show that retun on asset, financial leverage and company size have a significant affect the underpricing.    Keywords: Return On Assets, Financial Leverage, Company Size, Underpricing

scholarly journals FAKTOR – FAKTOR YANG MEMPENGARUHI UNDERPRICING IPO DI BURSA EFEK INDONESIA PERIODE 2008 - 2013

2016 ◽  
Vol 5 (1) ◽  
Author(s):  
Diah Dewi Permanisuci
Keyword(s):  
Initial Public Offering ◽  
Stock Exchange ◽  
Company Size ◽  
Firm Age ◽  
Financial Leverage ◽  
Return On Assets ◽  
Variable Effect ◽  
Size Firm ◽  
Underwriter Reputation ◽  
Public Offering

This research has objective to empirical evidence that independent variables in this research ex financial leverage, reputastion auditor, return on assets, reputation underwriter, company size, firm age can be effect to underpricing companies listed in Indonesia Stock Exchange periods 2008-2012. This research uses data from all companies that listed in Indonesia stock Exchange periods 2008 – 2012. Samples are used as sixthy companies. This research show the occurrence of underpricing in initial public offering. There is variable effect auditor, company size, firm age, eith the level of underpricing that listed in Indonesia stock exchange. There is nothing influence financial leverage, reputation underwriter, return on asset with the level of underpriccing that listed in Indonesia stock exchange Keywords:.reputation underwriter, reputation auditor, company size, firm age, return on assets, financial leverage, levels of underpricing.

scholarly journals PENGARUH VARIABEL KEUANGAN PERUSAHAAN (RETURN ON ASSET, EARNING PER SHARE, CURRENT RATIO, DAN FINANCIAL LEVERAGE) TERHADAP UNDERPRICING

2014 ◽  
Vol 4 (1) ◽  
pp. 48
Author(s):  
Maryoto Maryoto ◽  
Salamatun Asakdiyah
Keyword(s):  
Initial Public Offering ◽  
Stock Exchange ◽  
T Test ◽  
Coefficient Of Determination ◽  
Test Results ◽  
Financial Leverage ◽  
Return On Assets ◽  
Current Ratio ◽  
A Value ◽  
Public Offering

This research wa carried out on companies that do the Initial Public Offering (IPO) in the period 2008-2009. With a population of 31 companies and get a sample of 27 companies with the technique of sampling using purposive sampling. In this study tested the hypothesis by using multiple regression and t test. After doing an analysis of 27 companies in initial public offering in 2008 until 2009 are listed in Indonesia Stock Exchange, obtained the results of the calculation of the coefficient of determination (R2) obtained a value 0f 0.170 is in a position of positive mean return on assets (ROA), earning per share (EPS), current ratio (CR), and financial leverage (FL) 1.7% to explain underpricing. Thus 98.3% underpricing is explained by other variables not examined in this study. By using the t test for variable return on assets (ROA), earnings per share (EPS), current ratio (CR), and financial leverage (FL) had no significant influence on underpricing with the test results significantly greater value than the alpha (5%).

scholarly journals Beberapa Faktor yang Mempengaruhi Underpricing Saham Pada Perusahaan Yang Melakukan Initial Public Offering (IPO) Di Bursa Efek Indonesia

2018 ◽  
Vol 2 (2) ◽  
pp. 102-108
Author(s):  
Sri Winarsih Ramadana
Keyword(s):  
Data Analysis ◽  
Initial Public Offering ◽  
Stock Exchange ◽  
Company Size ◽  
Financial Leverage ◽  
Cross Sectional ◽  
Financial Reports ◽  
Underwriter Reputation ◽  
Public Offering ◽  
Positive Effect

The purpose of this study is to examine the effect; financial leverage, profitability, underwriter reputation, company age and company size against underpricing of company shares that carried out an initial public offering on the Indonesia Stock Exchange from 2007 to 2013. The data used in this study is cross sectional data, namely prospectus data in the form of annual financial reports company, underwriter data, company age and size issued by the Indonesia Stock Exchange for the period 2007-2013. The data analysis method used is multiple linear regression. Data analysis begins with variable descriptive statistics, classic assumption tests, and hypothesis testing. The results of the research partially show that financial leverage has a positive effect on underpricing, while profitability, the reputation of the underwriter, the age of the company and the size of the company negatively affect underpricing. The results of the study indicate that together (simultaneous) financial leverage, profitability, underwriter reputation, company age and company size influence underpricing.

scholarly journals THE EFFECT OF COMPANY SIZE, FINANCIAL LEVERAGE, AND PROFITABILITY OF SHARE OVERPRICINGAT THE INITIAL PUBLIC OFFERING (IPO)

2019 ◽  
Vol 7 (12) ◽  
pp. 225-235
Author(s):  
Atika Ulfah ◽  
Tri Joko Prasetyo ◽  
Usep Saipuddin
Keyword(s):  
Initial Public Offering ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Company Size ◽  
Financial Leverage ◽  
Purposive Sampling ◽  
Public Offering ◽  
Positive Effect

This study aimed to prove the effect of company size, financial leverage, and profitability on stock overpricing. The population of this research was the companies which conducted initial public offering (IPO) which were listed on the Indonesia Stock Exchange (BEI) in 2009 - 2018. This research used purposive sampling technique and the number of samples obtained was 31 companies. The results of this study indicate that the variable company size and financial leverage have no effect on overpricing. In contrary, the profitability variable has a positive effect toward overpricing.

APAKAH FAKTOR EKSTERNAL MEMPREDIKSI UNDERPRICING LEBIH BAIK DIBANDINGKAN FAKTOR INTERNAL? STUDI INITIAL PUBLIK OFFERING DI BEI TAHUN 2009-2017

2020 ◽  
Vol 7 (1) ◽  
Author(s):  
Saefudin Saefudin ◽  
Tri Gunarsih
Keyword(s):  
Interest Rates ◽  
Initial Public Offering ◽  
Stock Exchange ◽  
Sample Selection ◽  
Secondary Data ◽  
Secondary Market ◽  
Company Size ◽  
Negative Effect ◽  
Underwriter Reputation ◽  
Public Offering

Underpricing is a phenomenon that still occurs in the Indonesian capital market, where the offering price of shares in the primary market is lower than the opening price or closing price on the first day on the secondary market. This study aims to examine the effect of Return On Assets (ROA), Debt to Equity Ratio (DER), company size, underwriter reputation, age, and interest rates on the underpricing of shares in companies’s Initial Public Offering (IPO) listing on the Indonesia Stock Exchange (BEI) in 2009 to 2017. The population in this study are companies that conduct IPOs on the BEI period 2009 to 2017. The sample selection in this study uses a purposive sampling method, based on certain criteria. The sample in this study were 183 underpricing companies from 205 companies conducting IPO in the period 2009 to 2017. The data used in this study used secondary data. The multiple regression analysis was implemented in this study. The results showed that DER, company size, and underwriter reputation did not significantly influence underpricing. While ROA, age and interest rates have a significant negative effect on underpricing. In this study, investors consider ROA, age, interest rates compared to DER, company size, and the reputation of the underwriter to invest in companies that make an IPO.Keywords: Underpricing, Initial Public Offering, and Indonesian Stock Exchange.

scholarly journals ANALISIS PENGARUH INFORMASI PROSPEKTUS PERUSAHAAN TERHADAP INITIAL RETURN SAHAM PADA PASAR PERDANA DI BURSA EFEK INDONESIA

2019 ◽  
Author(s):  
Afriyeni Afriyeni ◽  
Doni Marlius
Keyword(s):  
Initial Public Offering ◽  
Research Finding ◽  
Regression Models ◽  
Stock Exchange ◽  
Financial Leverage ◽  
Financial Report ◽  
Initial Return ◽  
Multiple Regression Models ◽  
Report Data ◽  
Public Offering

This research investigates three variable of prospectus report that being Signalling Concequences to initial return stock at Initial Public Offering. These variable are Profitabily,, Financial Leverage and Liquidity. The sample took in the present research consists of 35 firms, which have been listed at Indonesia Stock Exchange since 2002 until 2006 years. The financial report data took as time as public offering. The t and F tests in multiple regression models are used to test hypotheses. Research finding show that : Liquidy at financial report are statistically significant to Signalling Concequences Initial Return. Second, other financial as Profitability and Financial Leverage are statistically no significant to Signalling Concequences initial return stock. This results indicates that investor think liquidity is superior to predict initial return stock at Initial Public Offering.

scholarly journals ANALISIS FAKTOR – FAKTOR YANG MEMPENGARUHI INITIAL RETURN SETELAH IPO DI BURSA EFEK INDONESIA PERIODE 2017-2019

2021 ◽  
Vol 6 (1) ◽  
pp. 77-90
Author(s):  
Debi Carolina ◽  
Dwi Desy Miswati
Keyword(s):  
Initial Public Offering ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Financial Leverage ◽  
Factors Affecting ◽  
Financial Firms ◽  
Initial Return ◽  
Public Offering ◽  
The Impact ◽  
A Company

Initial Public Offering is a mechanism in which a company for first time issues new stock and is then offered to the public. The factors affecting the initials return are Return On Asset, Financial Leverage, and Earning Per Share. The problems with this research are (1) What is the development of return on asset, financial leverage, earning per share and initial return on non-financial firms registered in BEI? (2) How does return on asset, financial leverage, and earning per share affect the initials return partially? (3) How does return on asset, financial leverage, and earning per share affect the initials return simultaneously? The purposes of this research are (1) To find out the progression of return on asset, financial leverage, earning per share, and initial return. (2) To know the impact of return on asset, financial leverage, and earning per share toward the initial return partially. (3) To know the impact of return on asset, financial leverage, and earning per share toward the initial return simultaneously. Locus in this research is conducted on a company that did IPO and registered to the Indonesian Stock Exchange in 2017-2019. The number of peoples in this research are 145 companies, and the selection of samples was used by purposive sampling technique to 34 IPO companies listed in the Indonesian Stock Exchange as a research. The method of data analysis used is descriptive and verificative, where it makes classical assumptions and multiple linear regression tests. Simultaneous research reveals that there have been significant effects on initials return. And partial, financial leverage has a positive effect on the initials return. Whereas the return on asset and earning per share have no effect on initials return.

scholarly journals Motif Go Public, Herding, Ukuran Perusahaan, Dan Underpricing Pada Pasar Modal Indonesia

2010 ◽  
Vol 3 (1) ◽  
Author(s):  
Fitri Ismiyanti ◽  
Rohmad Fuad Armansyah
Keyword(s):  
Initial Public Offering ◽  
Stock Exchange ◽  
Going Public ◽  
Day Trading ◽  
Asymmetry Information ◽  
The World ◽  
Public Offering ◽  
Offering Price ◽  
Significant Size ◽  
Exchange Data

Underpricing become a phenomenon which often occurs by companies during Initial Public Offering in every country in the world, which offering price lower than closing price on the first day trading on the stock exchange. According to Rock (1982), asymmetry information of an IPO company leads to underpricing phenomena, where the information according to the company are not evenly distributed among investors. This asymmetry information emerging distribution of uncertainty among investors that leads to underpricing. The objective of this research is to test the influence of motive of company going public, herding in stock market, and size of the company to the degree of underpricing using sample of 257 companies listed during year 1990 to June 2009 on the Indonesian Stock Exchange. Sample is taken by using purposive sampling with criteria as underpriced stocks and the stocks are not delisting overall from stock exchange. Data are analyzed using multiple regressions and path analysis to test the relation between motive of company going public, herding, and size of the company to the degree of underpricing. Pursuant to the analysis, motive of company going public and herding have positively influence on the degree of underpricing but statistically not significant. Size of the company which measure using total asset have negatively influence on the degree of underpricing and statistically significant on the first day trading on the stock exchange.

scholarly journals Profitability Ratio Analysis at PT. Medikaloka Hermina, TBK.

2021 ◽  
Vol 1 (1) ◽  
pp. 60-67
Author(s):  
Giri Gintang Miransyah ◽  
Sri Rahayu Sangra Dempo ◽  
Sutisna Sutisna
Keyword(s):  
Financial Performance ◽  
Initial Public Offering ◽  
Stock Exchange ◽  
Ratio Analysis ◽  
Management Effectiveness ◽  
Return On Assets ◽  
Financial Reports ◽  
Return On Equity ◽  
Net Profit ◽  
Public Offering

This study aims to determine the company's financial performance by using profitability ratio analysis, where the profitability ratio is a ratio that aims to determine the company's ability in generating profit over a certain period and also provides an overview of the level of management effectiveness in carrying out its operations. Profitability ratio consists of three ratios, among others Return On Assets, Return On Equity and Net Profit Margin. The research object is PT Medikaloka Hermina Tbk, where the health services company has done IPO (Initial Public Offering) or initial public offering so that economic growth of company very rapidly. The purpose of this study is to test and analyze the financial performance of the company at PT. Medikaloka Hermina Tbk. year 2018 - 2020 if reviewed from the profitability ratio. The sample of this research is financial reports from PT Medikaloka Hermina Tbk for 2018 – 2020 published on the Indonesia Stock Exchange website

scholarly journals DAMPAK INFORMASI AKUNTANSI DAN NON AKUNTANSI TERHADAP INITIAL RETURN SAHAM PADA PERUSAHAAN YANG MELAKUKAN INITIAL PUBLIC OFFERING DI BURSA EFEK INDONESIA

2017 ◽  
Vol 6 (1) ◽  
pp. 79 ◽  
Author(s):  
Saifudin Saifudin ◽  
Alisa Meriani
Keyword(s):  
Initial Public Offering ◽  
Share Price ◽  
Firm Age ◽  
Financial Leverage ◽  
Return On Assets ◽  
Earnings Per Share ◽  
Initial Return ◽  
Price Earnings Ratio ◽  
Underwriter Reputation ◽  
Public Offering

This study aims to analyze the influence of accounting and non-accounting information of the Initial Return company shares Initial Public Offering (IPO). This study uses secondary data by taking a sample of companies that do an IPO on the Stock Exchange 2009-2012. Variables that are used in this study include the size of the company, earnings per share, price earnings ratio, financial leverage, return on assets, value stock offering, firm age, underwriter reputation, the reputation of the auditor, and the ownership of existing shareholders. The data collection method using purposive sampling and analysis of data with multiple linear regression were processed using SPSS. The results showed that the significant effect on the initial return is the size of the company, earnings per share, price earnings ratio, underwriter reputation, and the value stock offering. While financial leverage, return on assets, the proportion of ownership of existing shareholders, underwriter reputation, and firm age no significant effect on initial returns.

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