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Journal : Jurnal Ekonomi

ANALISIS FENOMENA UNDERPRICING INITIAL PUBLIC OFFERING PADA KELOMPOK PERUSAHAAN KEUANGAN DAN NON-KEUANGAN DI BURSA EFEK JAKARTA Dewi, Sandra
jurnal ekonomi Vol 1, No 1 (2007)
Publisher : Sekolah Tinggi Ilmu Ekonomi H. Agus Salim Bukittinggi

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Abstract

Underpricing is an indication that there is a too low price determination on the prime stock emition and couses an abnormal return when it is first traded in the investor secondary market. When buying the prime stock, the investor is able to enjoy the capital gain at the time that stock is sold in the secondary market. The samples which are used in this research are about 96 company samples. From this research, it is shown that there is no underpricing phenomenon in the Jakarta Stock Exchange prime market which is indicated before by the negative prime abnormal return avarage and statistically significant. The later result proves that the average of the prime abnormal return in the financial group is smaller than the average of the prime abnormal return in the non-financial group. The emition guarantor reputation has a negative influence but it is not statically significant, offer size shows the positive influence over the underpricing and it is not statistically significant on the level 10% alpha. And by using the LOGHL deviation standar, the stock valotility does not show a significant effect on the 10% level dad has a positive influence with hte underpricing.
Co-Authors , Rahmi Abubakar, Mohammad Ade Pratiwi Susanty, Ade Pratiwi Adria Fahyumi Alfanzha Afni, Widia Khairun Afrizal Agatha Vivian Giovani, Agatha Vivian Giovani Agrina Riandani Agustina, Annisya AKHMAD Akhmad Darmawan Alamsyah, Ferdy Aliza Novia Rahmawati Alsyahidan Arsyad Amanda, Jelli Putra Andrew Shandy Utama andrew shandy utama, andrew shandy Andry Andry Anis Widayati Anne Putri Annisya Agustina Ardiansah, Ardiansah Ardiansah, Ardiansah Ariani, Yuri Arlen, Fauzi Armaita Arrozi Adhikara, MF. Arrozi, M.F. Asri Rozak Astri, Difia Baginda Parsaulian Bagio Kadaryanto, Bagio Beni Rawadi Berlianto, Margaretha Pink Bintang Purba Christever, Christever Chrisvi Febriani Adha Cici Pramida Cixo Cixo Debby Sinthania Delfit Devy Winata Dewi Haryati Dewiana, Meita Dian, Wahyuni Dickson, Dickson DM, M. Yusuf Dwi happy anggia sari Dwi Intan Puspitasari Dzakiyah Suci Yuhary Endang Ruswanti Evi Susi Sandrawita br. Saragih Fadhilah Fitria Fadilla Putri Fadillah, Resi Fahmarita Fahmarita Fahrila Firdaus Faiza, Jennifer Anggela Faizah, Mayla Safira Fatika, Neza Fayane, Ostari Febrina, Cory Fiki Pramita Fitra Gunarti Fitri Handayani Fresia Grestiana Fyona Hadisty Ghina Alya Dzakwan Ghina Fitri Tampubolon Girsang, Andri J. Gusrianti, Gusrianti Haifa Najla Amri Hakim, Fakhri Taufiqul Handayani, Reska Hani, Rahma Almira Haryanto, Totok Hasby Assidiqi Hasibuan, Eka Khairani Hasmita Hasmita, Hasmita Hasnati Hasnati, Hasnati Hayati, Syukra Helmi Helmi Henmaidi Henmaidi Henmaidi, Henmaidi Herlina Hesi Eka Puteri Hidarpa, Nana Hilma Yessi Hilmy, M. Reza Hisbul Habib, Habib HM, Makkah I Made Raditya Mahardika idris, Wafda Aulia Ihsan, Diky Nafisa Imelda, Rezky Indayana Febriani Tanjung, Indayana Febriani indriani monica, muthia Natasya veronica Intan Kumala Dewi Intan Muliana Rhamdhani Intan Silviana Intan Silviana Ira Paramastri Ira Safira Irsakinah, Irsakinah Ismail, Djauhar Ismail Isriani, Rahmi Johar, Olivia Anggie Jufrika Gusni Kemala, Qori Dwi Khadis, Syarif Khairunnisa, Viona Kurnia Ramadhan Kurniawan, Mario Kusumapradja, Rokiah Lara Paradilla Lathifa Asma Hayati Lisa Monica Lydia Lydia, Lydia M.F. Arrozi maidawilis, maidawilis Maidawillis, Maidawillis Malika Candra Kirana MARDATUL HUSNI, RISA Marlina, Vivi Mashudani, Lizda Mayasari, Destin Dwi Mela Aliani Meliza Dara Puspita Mevya, Eva Azharina MF Arrozi Adhikara MF. , Arrozi Miftahur Rahmah Miftahurrahmi Oktavia Mike Asmaria Mila Nor Elijha Moh. Fachrurrozy Basalamah Mohamad Reza Hilmy Mona Adria Wirda Muhammad Panji Al Gazali Muji R., Tri Septin Muliawan, Marjono Mutia Alya Surianto Nabila Rahmadani Najmi, Pyona Faddila Nasfi, Nasfi Nasution, Aisyah Maulidina Nasution, Tasya Nasya Aulia Ramadhani Nazilla Fahira Nazillaturrahmi Niken Rika Saputri Nilam Permata Sari Nisfi Rahmadhani Nofierni, Nofierni Nofita, Alsil Novera Martilova Novera, Milya Nur fajarriah Nurfadila Oksep Adhayanto Oktaviandini, Dila Pardede, Rudi Popy Ardian Ningsih Zega Pratiwi Susanty, Ade Pratiwi, Velina Prima Minerva Putri Yulia Ningsih Putri, Anggie Kurnia Putri, Natasya Kaila Putri, Nayla Dwi Putri, Windi Elsa Rahmad, Tantri Yanuar Rahmadani Eka Putri RAHMAT SYAHNI Rahmatika, Zulfa Rahmayani, Novi Rahmi Rahmi Rahmi Rahmi Ramaita Ramaita, Ramaita RESPATI, RUSVI Resty Dila Aryanti Rian Adi Pamungkas Rina Anindita Rina Mariyana Rina Panggabean Rini Andriani Riska Aulia Rita Wahidi , Kemala Rizkia, Dian Gema Roheman Roheman, Roheman Rudi Febriamansyah Sabri Sabri SAFEI, MUHAMMAD Safitri, Tiara Sahala Fransiskus Marbun Saputra, Muhammad Rian Saputri, Niken Rika Selfira, Lyoni Selvia Selvia Sesi Ulul Azizah Shela Kurnia Putri Sherly Oktaviani Sianturi, Yessyca Sihotang, Roma Ulina Br Silvia Dewi, Debby SRI RAHAYU Suci Ramadhani Sudiono, David Supriyantoro Supriyantoro Suratno, Ujang Surianto, Mutia Alya Syaputra, Zikir Irwanda Tasya Nasution Tito Andryansyah Tri Indah Prasasti Tri Yuliana Trisna Ajan, Anggra Utama, Andrew Sandy Utama, Andrew Shady WAHYUNI, VANIA Wantu, Hasyim Mahmud Welvy Fenancy Widyatmike Wijaya, Sudarma Wiwit Febrina Wulanda Putri Widy Yalid Yalid Yaswinda Yaswinda Yaswirman, Yaswirman Yasypi’i Pakhiri Caniago Yesi, Hilma Yesyka Yetti Yuderna, Vivi Yuliana, Wilda Yulsyofriend, Yulsyofriend Yunda, Irzanto Zauzza Stabita Zulhelmi zulhelmi zulhelmi Zulhelmi, Zulhelmi Zulvera