Abstract
This study aims to look at the effect of each variable (DER, ROA, NPM, EPS) on underpricing in companies conducting an initial public offering on the Stock Exchange in 2016-2018. Testing is done by using a sample of 31 companies that conducted an initial public offering listed on the Indonesia Stock Exchange in 2016 -2018, using purposive sampling method. Data processing methods use SPSS with descriptive tests, classic assumption tests, and in the measurement of hypotheses using multiple regression analysis. The results in this study address the influence of ROA and EPS on underpricing, while DER and NPM have no effect on underpricing. It is expected that this research can be used as a material consideration for investors in analyzing financial statements that will be used as a reference in investing, while for academics can add knowledge related to the influence of several fundamental factors on underpricing.
Highlights
This study aims to look at the effect of each variable (DER, ROA, Net Profit Margin (NPM), Earning Per Share (EPS)) on underpricing in companies conducting an initial public offering on the Stock Exchange in 2016-2018
This study aims to look at the effect of each variable (DER, ROA, NPM, EPS) on underpricing in companies conducting an initial public offering on the Stock Exchange in 2016-2018
Testing is done by using a sample of 31 companies that conducted an initial public offering listed on the Indonesia Stock Exchange in 2016 -2018, using purposive sampling method
Summary
Pada pasar perdana perusahaan melakukan kegiatan penjualan sekuritas (saham) yang sering disebut dengan istilah Initial Public Offering (IPO). Perusahaan yang memiliki proyek investasi yang bagus akan menarik investor dengan menawarkan saham yang rendah karena perusahaan telah mengetahui bahwa harga sahamnya di masa datang lebih tinggi dari harga perdana saat IPO. Menurut penelitian Putu Widhiastina Rida Prihatni (2016) Debt to Equity Ratio berpengaruh signifikan dan hubungan positif dengan underpricing karena semakin tinggi DER Semakin tinggi pula risiko finansial atau risiko kegagalan perusahaan untuk mengembalikan pinjaman. Menurut Penelitian Nanda Din Nurazizah, Majidah (2019) menyimpulkan bahwa secara parsial ROA berpengaruh negatif terhadap tingkat underpricing Semakin tinggi ROA suatu perusahaan maka semakin rendah tingkat underpricing karena investor menilai bahwa perusahaan memiliki kinerja yang baik sehingga investor bersedia membeli saham perdana dengan harga yang lebih tinggi. H4: Earning Per Share (EPS) berpengaruh terhadap Underpricing Initial Public Offering (IPO) di BEI
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
