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All Journal Jurnal Manajemen dan Agribisnis Journal of Economics, Business, & Accountancy Ventura JAM : Jurnal Aplikasi Manajemen Jurnal Aplikasi Bisnis dan Manajemen (JABM) E-Journal Journal of Consumer Science Jurnal Sains Teh dan Kina Journal of Consumer Sciences Jurnal Manajemen Pembangunan Daerah Technomedia Journal Budapest International Research and Critics Institute-Journal (BIRCI-Journal): Humanities and Social Sciences BISNIS & BIROKRASI: Jurnal Ilmu Administrasi dan Organisasi International Journal of Economics, Business, and Entrepreneurship (IJEBE) Indonesian Journal of Multidisciplinary Science Jurnal Ilmiah Bisnis dan Ekonomi Asia (Jibeka)
Trias Andati
Institut Pertanian Bogor
Religion Agriculture, Biological Sciences & Forestry Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Industrial & Manufacturing Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Mathematics Mechanical Engineering Public Health Social Sciences Other

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Journal : Journal of Consumer Sciences

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The Factors of Initial Return Related to IPO Companies on The Indonesia Stock Exchange Widyawati, Glynae; Juanda, Bambang; Andati, Trias
Journal of Consumer Sciences Vol. 4 No. 2 (2019): Journal of Consumer Sciences
Publisher : Department of Family and Consumer Sciences, Faculty of Human Ecology, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (713.292 KB) | DOI: 10.29244/jcs.4.2.119-135

Abstract

Companies that conduct IPOs will increase company’s value with an optimal capital structure. Initial return is a profit that investors can obtain from the initial share price is lower than the opening price of the secondary shares on the first day. Underpricing conditions occurs because the initial stock price is lower than the secondary stock price on the first day. This study aimed to analyze factors that impact initial returns on companies that conduct IPOs on the Indonesia Stock Exchange, analyze the effects of financial factors (ROE, DER, and BI Rate) and non-financial factors (professional auditors and underwriters) on initial returns to companies conducting IPOs in IDX, and how the behavior of investors towards those analysis. The linear regression data processing using SPSS 16 produced result that only the BI Rate variable which affected the initial return on the seven days, 30 days, and one year after the IPO observation period. The statistical results show the best r-square value is 17.6 percent, which means that the independent variables can be used to explain the effect to the initial return on 17.6 percent.
Co-Authors Adytia Pradnya Murti Albart, Nicko Andika, Tommy Anggaraeni, Lukytawati Anthoni, Richard Arif Imam Suroso Arkeman , Yandra Bambang Juanda BONAR M. SINAGA Bonar Marulitua Sinaga DS, Priyarsono Dwi Rachmina Erliza Noor Fauzi, Rizal Ahmad Ginoga, Andina Nuraini Hakim , Dedi Budiman Hanindipto, Fasa Aditya Hartoyo Hartoyo Hermanto Siregar Idqan Fahmi Irwan Hermawan M Firdaus Maulana, Tubagus N.A. Nimmi Zulbainarni Perdana Wahyu Santosa Pratama, Alfin Yoga Purnama, Riony Rihardhika Putri, Rizavia Mardhika Rahmat Mulyana RAMADHAN, MUHAMMAD FARHAN ROHAYATI SUPRIHATINI Siti Jahroh Srihadiyati Ayu Bestari, Srihadiyati Ayu Suharto Suharto Sulistyorini, Diah Diana Tubagus Nur Ahmad Maulana Wedagama, Dewa Nyoman Wiryasantika Widyawati, Glynae Yudistira, Yudi