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All Journal CALYPTRA : Jurnal Ilmiah Mahasiswa Universitas Surabaya
Bertha Silvia S.
Jurusan Managemen / Universitas Surabaya
Education

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FAKTOR-FAKTOR YANG MEMPENGARUHI UNDERPRICING PADA PERUSAHAAN YANG MELAKUKAN IPO DI BEI PERIODE 2004-2014 Sidarta Hermin; Werner Ria Murhadi; Bertha Silvia S.
CALYPTRA Vol. 6 No. 1 (2017): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (September)
Publisher : Perpustakaan Universitas Surabaya

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Abstrak - Penelitian ini bertujuan untuk menganalisis faktor-faktor yang mempengaruhi underpricing pada perusahaan yang melakukan IPO. Variabel yang digunakan dalam penelitian ini adalah Reputasi Underwriter (RU), Reputasi Auditor (RA), Umur Perusahaan (AGE), Ukuran Perusahaan (SIZE), Financial Leverage (FL), Return on Equity (ROE) dan Total Asset Turnover (TATO). Penelitian ini menggunakan pendekatan kuantitatif dengan model analisis regresi linear berganda. Penelitian ini menggunakan sampel perusahaan yang melakukan Initial Public Offering (IPO) pada periode 2004-2014 yang terdaftar di Bursa Efek Indonesia. Jumlah observasi yang digunakan dalam penelitian ini adalah 204 observasi. Hasil penelitian menunjukkan bahwa pada perusahaan yang melakukan IPO pada periode 2004-2014, variabel reputasi underwriter, reputasi auditor, dan return on equity berpengaruh negatif signifikan terhadap underpricing, sedangkan variabel umur perusahaan, ukuran perusahaan, financial leverage, dan total asset turnover berpengaruh negatif tidak signifikan terhadap underpricing. Kata kunci: Initial Public Offering (IPO), underpricing, dan Bursa Efek Indonesia (BEI) Abstract - This study aimed to analyze the factors that influence underpricing on IPO. Variables used in this research is Underwriter Reputation (RU), Auditor Reputation (RA), Company Age (AGE), firm size (SIZE), Financial Leverage (FL), Return on Equity (ROE) and Total Asset Turnover (TATO) , This study uses a quantitative approach with a model of multiple linear regression analysis. This study used a sample of companies that conduct an Initial Public Offering (IPO) in the period 2004 to 2014 that are listed in the Indonesia Stock Exchange. The number of observations used in this study were 204 observations. The results showed that the companies doing IPOs in the period 2004-2014, the variable underwriter reputation, auditor reputation, and return on equity significantly negative effect on underpricing, while variable firm age, firm size, financial leverage, and total asset turnover negative not significantly to underpricing. Keyword: Initial Public Offering (IPO), underpricing, and Indonesia Stock Exchange (IDX).
FAKTOR – FAKTOR YANG MEMPENGARUHI KEBIJAKAN DIVIDEN DAN DAMPAKNYA PADA FUTURE EARNING GROWTH PERUSAHAAN DI SEKTOR INDUSTRI BARANG KONSUMSI YANG TERDAFTAR DI BEI PERIODE 2010-2014 Ricky Setiawan; Werner Ria Murhadi; Bertha Silvia S.
CALYPTRA Vol. 6 No. 1 (2017): Calyptra : Jurnal Ilmiah Mahasiswa Universitas Surabaya (September)
Publisher : Perpustakaan Universitas Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

Abstract This study aimed to analyze the factors that influence the dividend policy and its impact on future earnings growth .Variabel used include size, leverage¸ lagged dividend policy, growth, and profitability. This study uses a quantitative approach to the analyze and use two stage least square as a model. This study used a sample of firm in the sector of consumer goods industry that distribute the minimum dividend 2 times on 2010-2014. The results showed that variable size, dividend payment of the previous period, and profitability has a positive and significant impact on dividend policy. While variable growth leverage and significant negative effect on dividend policy. For the second model variables proftability have a significant negative effect on the future earnings growth. While the variable leverage have significant negative effect on the future earnings growth. Other variables such as dividend policy, size, and growth have no significant effect on future earnings growth. Keyword: Dividend Policy, Future Earning Growth, Profitability, Firm Growth, Firm Size, Financial Leverage.
Co-Authors Ricky Setiawan Sidarta Hermin Werner R Murhadi