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All Journal Inisiatif: Jurnal Ekonomi, Akuntansi Dan Manajemen
Bintang Cahaya Putra
Universitas Nusantara PGRI Kediri
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

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Dampak IPO terhadap Kinerja Keuangan Perusahaan Sektor Properti di Bursa Efek Indonesia Bintang Cahaya Putra; Amin Tohari; Mar’atus Solikah
Inisiatif: Jurnal Ekonomi, Akuntansi dan Manajemen Vol. 5 No. 4 (2026): (Oktober) Inisiatif: Jurnal Ekonomi, Akuntansi dan Manajemen
Publisher : Universitas 45 Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30640/inisiatif.v5i4.8073

Abstract

This study aims to analyze differences in the financial performance of property companies before and after the Initial Public Offering (IPO), measured by Current Ratio, Debt to Equity Ratio, Total Assets Turnover, and Return on Equity. This research uses a quantitative approach with a comparative event study design. The population consists of property sector companies listed on the Indonesia Stock Exchange that conducted IPOs during the 2011–2022 period. The sample was selected using purposive sampling, resulting in 20 companies. The data used are secondary data obtained from company financial statements. Data analysis techniques include the One-Sample Kolmogorov-Smirnov normality test and the Wilcoxon Signed Rank Test. The results show that Current Ratio, Debt to Equity Ratio, and Total Assets Turnover differ significantly before and after the IPO. Meanwhile, Return on Equity does not show a significant difference. These findings indicate that IPOs in property companies have a faster impact on liquidity, solvency, and activity, but do not immediately improve profitability.
Co-Authors Amin Tohari Solikah, Mar atus