Faktor Internal dan Eksternal yang Memengaruhi Underpricing pada Saat IPO di Bursa Efek Indonesia

Thoriq, Kemas Nurcholish; Hartoyo, Sri; Sasongko, Hendro

doi:10.17358/jabm.4.1.19

Cited by 12 publications

(15 citation statements)

References 2 publications

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“…These results are in line with the research of Ariyani and Wijayanto (2018), Ayuwardani (2018), which supports the results of this study, namely DER has no effect on initial return. While research from Thoriq et al, (2018), Rodoni et al, (2018) cannot be proven in this study, because these researchers have found that DER has a significant positive effect on initial return.…”

Section: Influence Of Debt To Equity Ratio On Initial Returnmentioning

confidence: 72%

“…Therefore the level of uncertainty will be higher and cause the value of the initial return will also be higher (Erlina & Widyarti, 2013). Research conducted by Rodoni et al (2018) and Thoriq et al (2018) shows that Debt to Equity Ratio has a positive effect on underpricing. Then it is suspected that the greater the value of DER the greater the level of Initial Return of shares.…”

Section: The Influence Of Debt To Equity Ratio (Der) On Initial Returnmentioning

confidence: 99%

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Financial and Non-Financial Information Influencing Initial Return of IPOs on the Indonesia Stock Exchange

Zuliardi¹,

Witiastuti²

2020

MAJ

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This study aims to determine the effect of financial factors (Return on Assets, Current ratio, Debt to Equity Ratio) and non-financial factors (company age and percentage of stock offer) listed in the company’s prospectus against the level of Initial Return of shares. This type of research is quantitative research, the population in this study is a company that experienced a positive initial return on the first day on the secondary market that conducted an Initial Public Offering (IPO) on the Indonesia Stock Exchange in 2013-2018 with a total of 150 issuers, while the sample amounted to 122 issuers using the sampling technique that is purposive sampling method. The analytical method used is multiple linear analysis methods using eviews9. The results of the study indicate that the independent variables namely ROA, CR, DER, AGE, and PPS affect the dependent variable initial return. Only the variable ROA and company age that affects the level of initial stock return. ROA has a significant negative effect on initial return, Company Age has a significant negative effect on initial return. While CR, DER, and Percentage of stock offerings do not affect the stock initial return. For further research, it is better to add other variables, namely market ratios and company size that have not been used in this study.

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Section: Influence Of Debt To Equity Ratio On Initial Returnmentioning

confidence: 72%

Section: The Influence Of Debt To Equity Ratio (Der) On Initial Returnmentioning

confidence: 99%

Financial and Non-Financial Information Influencing Initial Return of IPOs on the Indonesia Stock Exchange

Zuliardi¹,

Witiastuti²

2020

MAJ

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“…Companies conducting IPOs in the 2010-2015 period found that internal factors (variable ROA, DER, company age) and external factors (inflation) affected under-pricing (Thoriq et al, 2018). ROA has a negative relationship with under-pricing, while DER, age, and inflation have a positive relationship with under-pricing.…”

Section: Figure 1 the Number Of Companies Conducting Ipos Based On Industrial Sectorsmentioning

confidence: 99%

IPO Under-pricing Phenomenon Approach: Does Covid-19 Has a Negative Sectoral Impact?

Hadiwidjaja

Muditomo²,

Trisnowati³

2021

jasf

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An initial public offering (IPO) refers to the process of offering shares of a private corporation to the public in a new stock issuance. An IPO allows a company to raise capital from public investors. This study aims to prove the sectoral impact of the Covid-19 pandemic in Indonesia. Qualitative identification through content analysis on public online media and report documents on the results of analysis by research institutes and consultants identifies potential negative impacts on several industrial sectors as a result of the Covid-19 pandemic throughout 2020, but on the other hand, IPO action on the Indonesian capital market in 2020 still ongoing. Previous research has not been found specifically that analyzes the relationship between the impact of Covid-19 on industry and the performance of IPO actions per industrial sector, then through the IPO under-pricing phenomenon approach, empirical evidence is carried out. This research uses secondary data for the initial returns of 315 companies that conducted IPO actions during the period 2010 to 2020 on the Indonesian capital market and testing using a paired sample test on the population of IPO actions before and during the Covid-19 pandemic, the results of this study indicate that simultaneously in all the corporate sector did not find any statistically significant difference in initial returns between the period before and during the pandemic. This shows that the Covid-19 pandemic does not directly impact the behavior of capital market investors, especially in making investment decisions in the primary market.

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“…Selanjutnya, perusahaan yang memperoleh laba tinggi dan usia yang lebih lama juga mempunyai dampak positif terhadap pengungkapan modal intelektual. Hasil ini sesuai dengan Thoriq et al (2018) yang menunjukkan ROA dan usia perusahaan berpengaruh signifikan terhadap underpricing pada saat melakukan penawaran saham perdana. Akan tetapi, penelitian ini tidak menemukan dampak signifikan leverage terhadap pengungkapan modal intelektual.…”

Section: Hubungan Proporsi Komisaris Wanita Dengan Pengungkapan Modalunclassified

Komisaris Keluarga, Komisaris Wanita dan Pengungkapan Modal Intelektual: Studi Pada Peristiwa Penawaran Saham Perdana

Setiawan

Putri

2019

JABM

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this study aims at examining the effect of family commissioners and female commissioners on intellectual capital disclosure using indonesian context. there were three independent variables in the study: percentage of family commissioners on board of commissioners, family chairman of the board of commissioners, and female commissioners. The sample of the study consisted of non-financial firms that conducted Initially Public Offering (IPO) at Indonesia Stock Exchange (IDX) during the 2001-2016 period. The final sample of the study consisted of 175 firms. This study used multiple regression to test the effect of family commissioners and female commissioners on intellectual capital disclosure. the result of the study shows that female commissioners and percentage of family commissioners have positive effects on intellectual capital disclosure. female commissioners have positive effects to push the company to provide more information to the investors. therefore, gender diversity in the board of commissioners has a positive effect to the firms. Furthermore, family commissioners also push management to provide better disclosure on intellectual capital. However, this study did not find significant effects of family chairman on the board of commissioners on intellectual capital disclosure.

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Faktor Internal dan Eksternal yang Memengaruhi Underpricing pada Saat IPO di Bursa Efek Indonesia

Abstract: faktor intErnal dan EkstErnal yang MEMEngaruhi undErPriCing Pada saat iPo di bursa EfEk indonEsia thE intErnal anD EXtErnal factors influEncing thE unDErPricing of iPo in thE inDonEsian stock EXchangE kemas nurcholish thoriq )1 , sri hartoyo ) , dan hendro sasongko )

Cited by 12 publications

References 2 publications

Financial and Non-Financial Information Influencing Initial Return of IPOs on the Indonesia Stock Exchange

Financial and Non-Financial Information Influencing Initial Return of IPOs on the Indonesia Stock Exchange

IPO Under-pricing Phenomenon Approach: Does Covid-19 Has a Negative Sectoral Impact?

Komisaris Keluarga, Komisaris Wanita dan Pengungkapan Modal Intelektual: Studi Pada Peristiwa Penawaran Saham Perdana

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Faktor Internal dan Eksternal yang Memengaruhi Underpricing pada Saat IPO di Bursa Efek Indonesia

Abstract: faktor intErnal dan EkstErnal yang MEMEngaruhi undErPriCing Pada saat iPo di bursa EfEk indonEsia thE intErnal anD EXtErnal factors influEncing thE unDErPricing of iPo in thE inDonEsian stock EXchangE kemas nurcholish thoriq *)1 , sri hartoyo **) , dan hendro sasongko ***)

Cited by 12 publications

References 2 publications

Financial and Non-Financial Information Influencing Initial Return of IPOs on the Indonesia Stock Exchange

Financial and Non-Financial Information Influencing Initial Return of IPOs on the Indonesia Stock Exchange

IPO Under-pricing Phenomenon Approach: Does Covid-19 Has a Negative Sectoral Impact?

Komisaris Keluarga, Komisaris Wanita dan Pengungkapan Modal Intelektual: Studi Pada Peristiwa Penawaran Saham Perdana

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Abstract: faktor intErnal dan EkstErnal yang MEMEngaruhi undErPriCing Pada saat iPo di bursa EfEk indonEsia thE intErnal anD EXtErnal factors influEncing thE unDErPricing of iPo in thE inDonEsian stock EXchangE kemas nurcholish thoriq )1 , sri hartoyo ) , dan hendro sasongko )