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

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.

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

Jurnal Riset Inspirasi Manajemen dan Kewirausahaan ◽

10.35130/jrimk.v2i2.22 ◽

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.

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

Jurnal Wahana Akuntansi ◽

10.21009/10.21.009/wahana.011/2.3 ◽

2016 ◽

Vol 11 (2) ◽

pp. 35 ◽

Cited By ~ 1

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

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

JEMBATAN (Jurnal Ekonomi, Manajemen, Bisnis, Auditing, dan Akuntansi) ◽

10.54077/jembatan.v6i1.50 ◽

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.

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PENGARUH REPUTASI UNDERWRITER, UKURAN PERUSAHAAN, DAN RETURN ON EQUITY TERHADAP UNDERPRICING SAAT IPO DI BEI

E-Jurnal Manajemen Universitas Udayana ◽

10.24843/ejmunud.2019.v08.i08.p01 ◽

2019 ◽

Vol 8 (8) ◽

pp. 4731

Author(s):

Anak Agung Gede Jayanarendra ◽

Ni Luh Putu Wiagustini

Keyword(s):

Data Analysis ◽

Linear Regression ◽

Initial Public Offering ◽

Stock Exchange ◽

Sampling Technique ◽

Company Size ◽

Return On Equity ◽

Negative Effect ◽

Underwriter Reputation ◽

Public Offering

This study aims to analyze the influence of the factors that influence underpricing on the Initial Public Offering (IPO). The sample of this study amounted to 102 companies that experienced underpricing in 2013-2017 which were listed on the Indonesia Stock Exchange, the sample was conducted based on purposive sampling technique, with the criteria of companies conducting IPOs on the IDX in the period 2013-2017 and experiencing the phenomenon of underpricing. The method of data analysis uses multiple linear regression using the SPSS 20 program. The findings of the study are that company size and return on equity have a significant negative effect on underpricing, while the underwriter's reputation does not affect underpricing. This shows that the higher the size of the company and return on equity, the lower the underpricing of the company. Unlike the reputation of the underwriter who has no influence on underpricing. Keywords: initial public offering, underpricing, underwriter reputation, firm size, return on equity

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

Jurnal Manajemen ◽

10.26460/jm.v5i1.180 ◽

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.

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

JMBI UNSRAT (Jurnal Ilmiah Manajemen Bisnis dan Inovasi Universitas Sam Ratulangi). ◽

10.35794/jmbi.v7i1.28178 ◽

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.

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THE INFLUENCE OF CORPORATE GOVERNANCE, COMPANY SIZE, AND LEVERAGE TOWARD EARNING MANAGEMENT

Jurnal Akuntansi Trisakti ◽

10.25105/jat.v6i1.4869 ◽

2019 ◽

Vol 6 (1) ◽

pp. 19

Author(s):

Mayasari Mayasari ◽

Ayu Yuliandini ◽

Intan Indah Permatasari

Keyword(s):

Corporate Governance ◽

Earnings Management ◽

Firm Size ◽

Stock Exchange ◽

Sampling Technique ◽

Earning Management ◽

Managerial Ownership ◽

Company Size ◽

Negative Effect ◽

Positive Effect

The purpose of this study is to examine the influence of GCG variables, firm size, and leverage on earnings management. The sample used is 35 public listed property and real estatecompanies in the Indonesia Stock Exchange (IDX) from 2015 until 2017. The sampling technique uses purposive sampling. This study uses multiple regression. The results of the analysis showed that managerial ownership does not have a negative effect on earnings management but oppositely, it has a positive effect on earnings management, while company size does not have any effect on earning management.

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Pengaruh Kecukupan Modal, Penyaluran Kredit dan Ukuran Perusahaan Pada Profitabilitas Dengan Risiko Kredit Sebagai Pemoderasi

E-Jurnal Akuntansi ◽

10.24843/eja.2019.v26.i01.p29 ◽

2019 ◽

pp. 791

Author(s):

A. A. Trisha Dewi Parasthiwi ◽

I Gusti Ayu Nyoman Budiasih

Keyword(s):

Regression Analysis ◽

Credit Risk ◽

Sampling Method ◽

Stock Exchange ◽

Sampling Technique ◽

Capital Adequacy ◽

Company Size ◽

Analysis Technique ◽

Distribution Company ◽

Positive Effect

This research was conducted at banking companies listed on the Indonesia Stock Exchange in the period 2013-2017, which were 42 companies. The sampling technique in this study was taken based on non probability sampling method with purposive sampling technique so as to produce a sample of 32 companies. The data analysis technique used in this study was moderated regression analysis. Based on the results of the analysis it was found that capital adequacy has a positive effect on profitability, credit distribution has a positive effect on profitability and firm size has a positive effect on profitability. The results of this study also show that credit risk is not able to weaken the influence of capital adequacy and lending to profitability and credit risk is able to weaken the influence of company size on profitability. Keywords: capital adequacy, credit distribution, company size, credit risk, profitability

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

Jurnal Fokus Manajemen Bisnis ◽

10.12928/fokus.v4i1.1349 ◽

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%).

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PENGARUH PROFITABILITAS, LEVERAGE, UKURAN PERUSAHAAN, DAN SALES GROWTH TERHADAP TAX AVOIDANCE

Jurnal Akuntansi Trisakti ◽

10.25105/jat.v7i1.6289 ◽

2020 ◽

Vol 7 (1) ◽

pp. 127

Author(s):

Maria Qibti Mahdiana ◽

Muhammad Nuryatno Amin

Keyword(s):

Stock Exchange ◽

Statistical Tests ◽

Tax Avoidance ◽

Sampling Technique ◽

Total Sample ◽

Company Size ◽

Sales Growth ◽

Significant Positive Effect ◽

Sustainability Reports ◽

Positive Effect

This study investigated the effect of profitability, leverage, company size, and sales growth on tax avoidance. This research uses quantitative method, the data used are secondary data taken from financial reports and company sustainability reports. The sampling technique used a purposive sampling method of 25 companies listed on the Indonesia Stock Exchange from 2015 to 2018. The total sample used were 100 companies that revealed complete financial and sustainability reports from 2015 to 2018. Data analysis techniques used descriptive statistical tests and multiple regression tests. The result show that (1) profitability has a significant positive effect on tax avoidance (2) leverage has a significant positive effect on tax avoidance (3) company size does not affect tax avoidance and (4) sales growth does not affect the tax avoidance variable.

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