Herawati, Disma Dwi (2020) FAKTOR – FAKTOR YANG MEMPENGARUHI UNDERPRICING SAHAM PADA PENAWARAN UMUM PERDANA DI BURSA EFEK INDONESIA TAHUN 2014 - 2018. Undergraduate thesis, Universitas Stikubank.
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Abstract
Fenomena underpricing terjadi secara global di berbagai pasar modal dunia. Pada pasar modal Indonesia masih sering menjumpai fenomena undepricing. Penelitian ini bertujuan untuk menguji dan menganalisis umur perusahaan, current ratio, return on asset, dan financial leverage terhadap tingkat underpricing. Penelitian ini dilakukan dengan metode purposive sampling dengan sampel sebanyak 112 perusahaan yang melakukan initial public offering (IPO) dalam rentan waktu 2014 - 2018. Penelitian ini dilakukan di Bursa Efek Indonesia (BEI) Data yang digunakan adalah data sekunder melalui annual report perusahaan tahun 2014-2018. Analisis data yang digunakan dalam penelitian ini adalah Analisis Regresi Berganda. Hasil penelitian ini menunjukkan bahwa variabel independen current ratio berpengaruh negatif dan signifikan terhadap tingkat underpricing. Demikian juga dengan variabel independen return on asset berpengaruh negatif dan signifikan terhadap tingkat underpricing. Sedangkan variabel independen umur perusahaan dan variabel independen financial leverage tidak berpengaruh secara signifikan terhadap tingkat underpricing. Berdasarkan hasil penelitian, dapat diambil kesimpulan bahwa variabel independen current ratio berpengaruh secara negatif dan signifikan terhadap tingkat underpricing dan variabel independen return on asset berpengaruh secara negatif dan signifikan terhadap tingkat underpricing. Saran yang dapat diberikan berdasarkan hasil penelitian ini adalah untuk penelitian selanjutnya disarankan untuk menggunakan alat ukur yang lebih konsisten dan jelas untuk pengukuran umur perusahaan dan financial leverage. Ketidakkonsistenan dapat mengakibatkan hasil yang tidak konsisten dalam penelitian yang dilakukan. Selain itu, penelitian selanjutnya dapat menggunakan variabel-variabel lainya seperti tingkat suku buka, persentase pertumbuhan ekonomi, dan kurs untuk memperluas penelitian. ABSTRACT The underpricing phenomenon occurs globally in various world capital markets. In the Indonesian capital market, there is still often an undepricing phenomenon. This study aims to test and analyze the company's age, current ratio, return on assets, and financial leverage to the level of underpricing. This research was conducted with a purposive sampling method with a sample of 112 companies that conducted an initial public offering (IPO) in a vulnerable period of 2014 - 2018. This research was conducted at the Indonesia Stock Exchange (IDX). 2018. Analysis of the data used in this study is Multiple Regression Analysis. The results of this study indicate that the independent variable current ratio has a negative and significant effect on the level of underpricing. Likewise, the independent variable return on assets has a negative and significant effect on the level of underpricing. While the independent variable age of the company and the independent variable financial leverage does not significantly influence the level of underpricing. Based on the results of the study, it can be concluded that the independent variable current ratio has a negative and significant effect on the level of underpricing and the independent variable return on assets has a negative and significant effect on the level of underpricing. Suggestions that can be given based on the results of this study are for further research it is advisable to use a measurement tool that is more consistent and clear for measuring company age and financial leverage. Inconsistencies can result in inconsistent results in the research conducted. In addition, further research can use other variables such as open interest rates, economic growth percentages, and exchange rates to expand research.
| Item Type: | Thesis (Undergraduate) |
|---|---|
| Additional Information: | SKR.V.05.52.2038 NIM 16.05.52.0138 |
| Uncontrolled Keywords: | Kata kunci: Underpricing, Umur Perusahaan, Current Ratio, Return On Assets, financial leverage |
| Subjects: | H Social Sciences > H Social Sciences (General) |
| Faculty / Institution: | Fakultas Ekonomika dan Bisnis > Program Studi Akuntansi |
| Depositing User: | Lisa Noviani Maghfiroh |
| Date Deposited: | 06 May 2020 03:41 |
| Last Modified: | 11 May 2020 03:53 |
| URI: | http://eprints.unisbank.ac.id/id/eprint/6660 |
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