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All Journal IMAGE EKSPANSI JESI (Jurnal Ekonomi Syariah Indonesia) Jurnal Difusi Indonesian Journal of Economics and Management Industrial Research Workshop and National Seminar Jurnal Bisnis dan Kewirausahaan Journal of Applied Islamic Economics and Finance Journal Integration of Management Studies
Pakpahan, Rosma
Jurusan Akuntansi, Politeknik Negeri Bandung
Humanities Chemical Engineering, Chemistry & Bioengineering Civil Engineering, Building, Construction & Architecture Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Engineering Environmental Science Industrial & Manufacturing Engineering Mechanical Engineering Social Sciences Other

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PENGARUH FAKTOR-FAKTOR FUNDAMENTAL DAN REPUTASI UNDERWRITER TERHADAP UNDERPRICING PADA PERUSAHAAN YANG MELAKUKAN IPO PERIODE 2006-2011 Pakpahan, Rosma
IMAGE : Jurnal Riset Manajemen Vol 4, No 1 (2015): IMAGE : Jurnal Riset Manajemen. April 2015
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/image.v4i1.2326

Abstract

Underpricing phenomenon that often occurs in almost all capital markets in the world including in Indonesia is due to information asymmetry between issuers , underwriters and investors ( Beatty , 1989) , Guinness (1992 ) . Dissimilarity information owned issuers , underwriters and investors lead IPO price difference ( primary market ) and therefore caused underpricing . This is a different impact for corporate issuers and investors . Issuer will not benefit in the event of underpricing , because the proceeds from going public / IPO not optimally achieved . While investors will benefit from gaining initial returns ( profits early / prime profit ) is the difference between the IPO price in the primary market with a closing stock price on the first day of listing on the secondary market ( IDX ) . Several studies have been conducted and the results are diverse , Sandhiaji (2004 ) , Yolana and Martani (2005 ) and Gerianta (2008 ) .This study proposed six hypotheses that underwriter reputation , DER , ROA , firm size and value offers simultaneous and partial significantly affect the initial return as a proxy of underpricing . However, the results showed no statistically supported the research hypothesis .Keywords : underwriter reputation , DER , ROA , firm size ,market prices, initial returns ( underpricing)
Co-Authors Ai Diana Aini, Nurfina Annisa Nur Rahmah Banter Laksana, Banter Carolina Magdalena Lasambouw Dadang Hermawan Dadang Hermawan Dadang Hermawan Dadang Hermawan Delia Putri Anjani Destian Arshad Darulmalshah Tamara Djoni Djatnika Djuwarsa, Tjetjep Ega Virgiani Endang Hatma Juniwati Fasha Asyva Fauziah, Ulfah Nurul Fransiska, Alda Tri Hadiani, Fatmi Hani Nuraeni Hasbi Assidiki Mauluddi Hatma Juniwati, Endang Hazma, Hazma Henna Ardhefani Ilmani Ganis Adzillah Iwan Mulyawan Iwan Setiawan Juniwati, Endang Hatma Juniwati, Endang Hatma Katharina Priyatiningsih Kristianingsih Kristianingsih Kristianingsih, Kristianingsih KURNIASETIAWATI, ANNISA Leni Nur Pratiwi Lia Zulfa Laila Lina Setiawati Lina Setiawati M. Rayhan Azis Magdalena, Carolina Maulana Harun Ar-rosyyid Mayasari, Ine Mochamad Umar Mai Muhammad Muflih Nafisha Oktaviani Lutfi Nono Wibisono Novia Dwi Astari Nugraha, Hanafi Nurfitria Nurfitria Nuryati, Neneng Oktaviani Rarassati Pebrianti, Gita Nuralipah Purbayati, Radia Purbayati, Radia Radia Purbayati Rahmatulloh, Cikal Muzammil Rarassati, Oktaviani Rasyid Hardayansyah Reivaldo Reivaldo Riauli Susilawaty Hutapea Rismayanti, Siti Rivanda, Agil Krisna Ruhadi Ruhadi Ruhana, Nafisah Sabila Nur Al-fadzar Salsa Bila Azahra Sa’bana, Rifqi Fauzan Sekar Wulan Wiwitanti Setiawan Setiawan Setiawan Setiawan Setiawan Setiawan Silvira Agustina Siti Aisah Sulistia Suwondo Susana, Lina Marlina Tamara, Destian Arshad Darulmalshah Tjetjep Djuwarsa Tri Yuniarti Triastuty Wulandari Tripuspitorini, Fifi Afiyanti Ulfah Nurul Fauziah Utami, Adinda Putri Wulandari Wibisono, Nono Yeni Siti Halimatus Sadi’yah