ANALISIS PENGARUH FAKTOR KEUANGAN DAN NON-KEUANGAN TERHADAP TINGKAT UNDERPRICING SAHAM DENGAN UKURAN PERUSAHAAN DAN UMUR PERUSAHAAN SEBAGAI VARIABEL KONTROL (Studi Empiris Pada Perusahaan Yang Melakukan Initial Public Offering(IPO) Di Bursa Efek Indonesia Periode 2013-2017)
| Main Author: | DEWI WAHYUNI, CYNTHIA |
|---|---|
| Format: | Thesis NonPeerReviewed Book |
| Bahasa: | eng |
| Terbitan: |
, 2019
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| Subjects: | |
| Online Access: |
https://eprints.untirta.ac.id/2810/1/ANALISIS%20PENGARUH%20%20FAKTOR%20%20KEUANGAN%20DAN%20NON-KEUANGAN%20TERHADAP%20TINGKAT%20UNDERPRICING%20SAHAM%20DENGAN%20UKURAN%20PERUSAHAAN%20%20DAN%20UMUR%20PERUSAHAAN%20SEBAGAI%20VARIABEL%20KONTROL.pdf https://eprints.untirta.ac.id/2810/ https://feb.untirta.ac.id/ |
Daftar Isi:
- Cynthia Dewi Wahyuni, 5551150106, Undergraduate Thesis, Analysis of the Influence of Financial and Non-Financial Factors on the Underpricing of Shares with Firm Size and Age of the Company as Control Variables (Empirical Study on Companies that Make Initial Public Offering (IPO) on the Indonesia Stock Exchange Period 2013-2017 ), under the guidance of Dr. Wawan Ichwanudin, S.E, M.Si, Department of Management, Faculty of Economics and Business, University of Sultan Ageng Tirtayasa, 2019. The purpose of this study was to determine the effect of the variables ROA, DER and Underwriter's Reputation on the level of Underpricing with Company Size and Age of the Company as control variables in companies that IPO on the IDX in the period 2013-2017. The sample in this study was 115 companies. This study uses logistic regression techniques with two equation models. Regression model 1 to determine the effect of the variables ROA, DER and Underwriter's reputation on the level of Underpricing. Regression model 2 is to find out the effect of the ROA, DER and Underwriter Reputation variables on the level of Underpricing with additional control variables of Company Size and Company Age. Based on the results of model 1, there are only Underwriter Reputation variables that have a significant negative effect on the level of Underpricing of shares, with a significant value of 0.046. Whereas the ROA and DER variables do not have a significant effect with a positive direction on the level of Underpricing of shares. In model 1 the regression equation is Y = 1.799 + 0.009 (ROA) + 0.193 (DER) - 1.051 (RUND) + e with a coefficient of determination of only 7%, which means that the ROA, DER and Underwriter Reputation can explain the level of Underpricing of 7 % only and the remaining 93% is explained by other variables. In model 2, ROA, DER, and Underwriter Reputation do not have a significant effect on the level of Underpricing of shares. In the control variable, only the Company Age variable has a significant negative effect on the level of Underpricing with a significant value of 0.032. While the Company Size variable does not have a significant effect on the negative direction on the level of underpricing. In model 2 the regression equation is obtained Y = 13,644 + 0,062 (ROA) + 0,477 (DER) - 0,951 (RUND) - 0,406 (LN SIZE) - 0,047 (AGE) + e with the coefficient of determination only 17% means ROA variable, DER and Underwriter Reputation with Company Size and Company Age control variables are able to explain the level of Underpricing by 17% only, and the remaining 83% is explained by other variables outside of research. Keywords: Underpricing, ROA, DER, Reputation of Underwriters.