Analisis Pengaruh Proporsi Hutang, EPS Dan Oversubscription Terhadap Fenomena Underpricing

Haniifah, Aisy; Hartati, Nani

doi:10.15642/manova.v4i2.577

Cited by 3 publications

(8 citation statements)

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“…Pernyataan tersebut membangun asumsi bahwa terdapat hubungan oversubscriptions dengan tingkat underpricing. Sebagaimana temuan penelitian sebelumnya (Sochi & Islam, 2018;Haniifah & Hartati, 2021) bahwa oversubscribed dapat meningkatkan tingkat underpricing. H6: Oversubscribed berpengaruh terhadap tingkat underpricing…”

Section: Kerangka Teoritis Dan Pengembangan Hipotesisunclassified

Tingkat Underpricing Dan Faktor-Faktor Yang Mempengaruhinya

Alya Hafsah,

Khairunnisa

2023

akurasi

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Penelitian ini menguji korelasi faktor keuangan dan faktor non-keuangan dan pengaruhnya dengan fenomena underpricing pada IPO di Indonesia. Dengan pendekatan kuantitatif, penelitian ini menggunakan data sekunder yang berasal dari prospektus saat IPO. Sampel penelitian sebanyak 107 dari total 272 populasi perusahaan yang melakukan IPO periode 2018-2022. Analisis faktor dan analisis regresi berganda bertindak sebagai metode analisis. Analisis faktor menemukan financial leverage, profitabilitas, reputasi underwriter dan reputasi auditor saling berkorelasi sebagai faktor-faktor yang dapat menentukan tingkat underpricing. Selanjutnya, analisis regresi linier berganda menemukan adanya pengaruh signifikan reputasi auditor terhadap tingkat underpricing, sedangkan pada financial leverage, profitabilitas dan reputasi underwriter tidak ditemukan pengaruh signifikan terhadap tingkat underpricing. Bagi manajer perusahaan maupun investor, studi ini mengimplikasikan auditor bereputasi saat pelaksanaan IPO dapat mengurangi tingkat underpricing yang dialami perusahaan seiring dengan meningkatnya kepercayaan investor.

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Section: Kerangka Teoritis Dan Pengembangan Hipotesisunclassified

Tingkat Underpricing Dan Faktor-Faktor Yang Mempengaruhinya

Alya Hafsah,

Khairunnisa

2023

akurasi

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“…Earnings per share is defined as the amount of profit per share earned by the industry [10]. According to [11] the greater the earnings per share, the greater the number of stock returns.…”

Section: Earnings Per Sharementioning

confidence: 99%

Financial Performance Factors Influencing Initial Public Offering (IPO) of Companies in Indonesia

Ramadhan,

Ediano,

Leon

2023

grrbe

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This study aimed to obtain empirical evidence regarding the effect of net asset value, return on assets, return on equity, earnings per share, net income, and price earnings ratio of the IPO offering. Initial Public Offering (IPO) is another option for companies to get funding. With an IPO, the company's business form changes to go public. Companies going public require large funds to fund the company. The independent variables in this study are net asset value, return on assets, return on equity, earnings per share, profit after tax, and price earnings ratio. While the dependent variable is the IPO offering price. This research was conducted by collecting data from 86 companies that conducted an IPO on the Indonesia Stock Exchange within a period of 2 years (2021)(2022). The results of this study explained that net asset value has a positive effect on the IPO offer price. Return on assets has a negative effect on the IPO offer price. Earnings per share has a positive effect on the IPO offer price. Profit after tax has no effect on the IPO offer price. Price earnings ratio has a positive effect on the IPO offer price. Return on equity has a positive effect on the IPO offer price. The control variables (offer price and age of the firm) have no effect on the IPO offer price. The implication of this research is to provide financial managers with information regarding financial performance that can affect the offering price of shares at the time of the IPO which aims to reduce speculative failures and can create shareholder wealth. For investors, investors should choose companies that have high earnings per share and high return on assets.

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“…Penelitian yang dilakukan oleh (Dewi et al, 2019), (Haniifah & Hartati, 2021), dan (Mandasari et al, 2018) (Damanik & Sembiring, 2020), (Nazihah et al, 2020), (Putra, 2020) dan (Mandasari et al, 2018) (Haniifah & Hartati, 2021), (Sochi & Islam, 2018), dan (Sulistyowati, 2020) mengatakan bahwa oversubscription berpengaruh terhadap underpricing. Semakin tinggi oversubscription suatu saham maka semakin tinggi pula underpricing.…”

Section: Perumusan Hipotesis Pengaruh Earning Per Share Terhadap Ting...unclassified

“…Hasil penelitian ini sejalan dengan hasil penelitian (Asnaini, 2020) yang menyatakan bahwa earning per share tidak berpengaruh terhadap tingkat underpricing. Namun hasil penelitian ini tidak sesuai dengan penelitian (Haniifah & Hartati, 2021), (Dewi et al, 2019), dan (Mandasari et al, 2018) yang menyatakan bahwa earning per share berpengaruh terhadap tingkat underpricing Pengaruh Underwriter Reputation Terhadap Tingkat Underpricing Dari hasil pengujian hipotesis kedua (H2) bisa disimpulkan bahwa underwriter reputation tidak berpengaruh terhadap tingkat underpricing, yang artinya hipotesis kedua (H2) dalam penelitian ini ditolak. Tinggi rendahnya reputasi underwriter tidak berpengaruh terhadap tingkat underpricing.…”

Section: Pembahasan Pengaruh Earning Per Share Terhadap Tingkat Under...unclassified

“…Hasil penelitian ini sejalan dengan penelitian (Pradnyadevi & Suardikha, 2020) yang menyatakan bahwa permintaan saham (oversubscription) tidak berpengaruh terhadap tingkat underpricing. Namun hasil penelitian ini tidak sesuai dengan penelitian (Haniifah & Hartati, 2021), (Sochi & Islam, 2018), dan (Sulistyowati, 2020) yang menyatakan bahwa oversubscription berpengaruh terhadap tingkat underpricing.…”

Section: Pembahasan Pengaruh Earning Per Share Terhadap Tingkat Under...unclassified

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Pengaruh Earning Per Share, Underwriter Reputation, Dan Oversubscription Terhadap Tingkat Underpricing Saham Saat Initial Public Offering Di Bursa Efek Indonesia

2022

JRAS

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This study aims to analyze and determine the effect of Earning Per Share, Underwriter Reputation, and Oversubscription on the level of underpricing of shares during the Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX). The theory used in this study is signal theory which reflects the relationship between management and investors in providing company information using positive and negative signals.This study uses quantitative methods to test the three hypotheses that have been formulated. The object of this research is a company that is conducting an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) in 2019-2021. The sample for this research was taken from 60 companies which were obtained by purposive sampling technique so that 60 sample data were obtained. The analytical method used was multiple regression analysis using SPSS version 25.0 software.Based on data analysis using multiple regression, the results of this study show that (1) earning per share has no effect on the level of underpricing, (2) underwriter reputation has no effect on the level of underpricing, (3) oversubscription has no effect on the level of underpricing.The implications obtained from this research are to increase knowledge about the factors that can affect the level of underpricing as a consideration for companies before conducting an Initial Public Offering (IPO) on the Indonesia Stock Exchange (IDX) and for investors as a basis for making investment decisions on Indonesian Stock Exchange (IDX).

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Analisis Pengaruh Proporsi Hutang, EPS Dan Oversubscription Terhadap Fenomena Underpricing

Cited by 3 publications

References 5 publications

Tingkat Underpricing Dan Faktor-Faktor Yang Mempengaruhinya

Tingkat Underpricing Dan Faktor-Faktor Yang Mempengaruhinya

Financial Performance Factors Influencing Initial Public Offering (IPO) of Companies in Indonesia

Pengaruh Earning Per Share, Underwriter Reputation, Dan Oversubscription Terhadap Tingkat Underpricing Saham Saat Initial Public Offering Di Bursa Efek Indonesia

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