Faktor-Faktor Penyebab Underpricing Di Hari Pertama Perdagangan Di Bursa Efek Indonesia
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Institusion
Sekolah Tinggi Ilmu Ekonomi Bank Bpd Jawa Tengah
Author
Peramana, Dwi Chandra
Subject
H Social Sciences (General)
Datestamp
2024-02-19 05:44:45
Abstract :
Underpricing is an IPO phenomenon. The aim of this research is to determine factors that influence underpricing. This research conducted in companies doing IPO at Indonesia Stock Exchange in period of 2005-2011. Underpricing which is measured by initial return is dependent variable. Independent variables of this research are: underwriter reputation, firm size, ROE, rate of foreign currency, EPS, leverage ratio, and industry type. Sample is collected by using purposive sampling, resulting in 88 companies as sample. Multiple regression model used to test relation between independent variables and dependent variable. Regression analysis shows that underwriter reputation, firm size, rate of foreign currency, and leverage ratio have negative and significant influence on the level of underpricing. ROE and EPS have positive and significant influence on the level of underpricing. Industry type do not have significant influence to underpricing.
Underpricing is an IPO phenomenon. The aim of this research is to determine factors that influence underpricing. This research conducted in companies doing IPO at Indonesia Stock Exchange in period of 2005-2011. Underpricing which is measured by initial return is dependent variable. Independent variables of this research are: underwriter reputation, firm size, ROE, rate of foreign currency, EPS, leverage ratio, and industry type. Sample is collected by using purposive sampling, resulting in 88 companies as sample. Multiple regression model used to test relation between independent variables and dependent variable. Regression analysis shows that underwriter reputation, firm size, rate of foreign currency, and leverage ratio have negative and significant influence on the level of underpricing. ROE and EPS have positive and significant influence on the level of underpricing. Industry type do not have significant influence to underpricing.
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