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Faktor-Faktor yang Mempengaruhi Tingkat Underpricing Perusahaan Initial Public Offering (IPO) di BEI Friska Avrilia Friska Avrilia; Merry Susanti
EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi Vol. 4 No. 1: November 2024
Publisher : CV. Ulil Albab Corp

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/ekoma.v4i1.5281

Abstract

Peningkatan signifikan minat masyarakat terhadap investasi ditandai dengan pembelian saham perusahaan go-public. Dari sisi perusahaan, penjualan saham di pasar modal merupakan strategi untuk menghimpun dana pihak eksternal guna mengembangkan bisnis dan meningkatkan laba. Prosedur ini disebut Initial Public Offering (IPO) dan sering kali menimbulkan fenomena underpricing dalam kehidupan nyata. Penelitian ini bertujuan memastikan dampak pengaruh Persentase Penawaran Saham (PPS), Umur Perusahaan (UM), Ukuran Perusahaan (UK), dan Tujuan Penggunaan Dana (TPD) terhadap Tingkat Underpricing pada perusahaan yang melakukan Initial Public Offering (IPO) periode tahun 2016 – 2022. Sampel penelitian berjumlah 278 perusahaan yang dipilih melaui metode purposive sampling. Akan tetapi, 19 dari 278 sampel merupakan data outlier yang tidak lolos uji normalitas pada uji asumsi klasik, sehingga jumlah sampel penelitian tersisa 259 sampel. Hasil menunjukkan bahwa variabel PPS berpengaruh positif signifikan terhadap tingkat underpricing, sedangkan TPD berpengaruh negatif signifikan terhadap tingkat underpricing. Selain itu, variabel lainnya (UM dan UK) tidak berpengaruh terhadap tingkat underpricing.
Analisis Pengaruh Environmental, Social, and Governance (ESG) Score dengan Kinerja Keuangan pada Perusahaan Sektor Energi Ghea Rahmayanti; Merry Susanti
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 8 No. 7 (2026): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v8i7.12537

Abstract

This study aims to examine the effect of ESG scores on the financial performance of energy sector companies listed on the Indonesia Stock Exchange during the 2022–2024 period. The research employs a quantitative approach using panel data regression analysis. The sample consists of 11 companies, resulting in a total of 33 observations, selected through a purposive sampling method. Financial performance is measured using Return on Assets (ROA), Return on Equity (ROE), and Tobin’s Q. Data processing was conducted using EViews version 12. The analyses included classical assumption tests consisting of normality, heteroscedasticity, and autocorrelation tests; panel data model selection tests consisting of the Chow Test, Hausman Test, and Lagrange Multiplier Test; as well as hypothesis testing consisting of the F-test, t-test, and coefficient of determination test. The results of the analysis do not support the hypothesis that ESG scores affect financial performance as measured by ROA, ROE, and Tobin’s Q.
Pengaruh Inflasi, Bi Rate, Nilai Tukar, dan Penghimpunan Dana Pihak Ketiga Terhadap Penyaluran Kredit pada Perbankan LQ45 Greza Agrestya Arviandy; Merry Susanti
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 8 No. 7 (2026): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v8i7.12669

Abstract

This research aims to analyze the effect of inflation, the BI interest rate (BI Rate), exchange rate, and third-party funds on credit distribution in the banking sector in Indonesia. This research uses a quantitative approach using secondary data obtained from companies’ annual financial reports, official publications of Bank Indonesia, and the Central Statistics Agency (BPS) during the 2022–2025 research period. The sample used in this research was determined using a purposive sampling technique, resulting in five banks consistently listed in the LQ45 index during the research period. The analytical method used in this study is multiple linear regression analysis with the assistance of Statistical Product and Service Solutions 31 (SPSS 31) software. The results show that inflation, BI Rate, and exchange rate have no significant effect on credit distribution, while third-party funds have a positive and significant effect on credit distribution. These findings indicate that internal factors, particularly the collection of third-party funds, have a stronger influence on credit distribution activities compared to macroeconomic factors.
Faktor-Faktor yang Mempengaruhi Tingkat Underpricing Perusahaan Initial Public Offering (IPO) di BEI Friska Avrilia Friska Avrilia; Merry Susanti
EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi Vol. 4 No. 1: November 2024
Publisher : CV. Ulil Albab Corp

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/ekoma.v4i1.5281

Abstract

Peningkatan signifikan minat masyarakat terhadap investasi ditandai dengan pembelian saham perusahaan go-public. Dari sisi perusahaan, penjualan saham di pasar modal merupakan strategi untuk menghimpun dana pihak eksternal guna mengembangkan bisnis dan meningkatkan laba. Prosedur ini disebut Initial Public Offering (IPO) dan sering kali menimbulkan fenomena underpricing dalam kehidupan nyata. Penelitian ini bertujuan memastikan dampak pengaruh Persentase Penawaran Saham (PPS), Umur Perusahaan (UM), Ukuran Perusahaan (UK), dan Tujuan Penggunaan Dana (TPD) terhadap Tingkat Underpricing pada perusahaan yang melakukan Initial Public Offering (IPO) periode tahun 2016 – 2022. Sampel penelitian berjumlah 278 perusahaan yang dipilih melaui metode purposive sampling. Akan tetapi, 19 dari 278 sampel merupakan data outlier yang tidak lolos uji normalitas pada uji asumsi klasik, sehingga jumlah sampel penelitian tersisa 259 sampel. Hasil menunjukkan bahwa variabel PPS berpengaruh positif signifikan terhadap tingkat underpricing, sedangkan TPD berpengaruh negatif signifikan terhadap tingkat underpricing. Selain itu, variabel lainnya (UM dan UK) tidak berpengaruh terhadap tingkat underpricing.
The The Impact of ESG Transparency on the Financial Performance of Companies Listed in the LQ45 Index: An Empirical Study (2022–2024) Griselda Livia; Merry Susanti
Golden Ratio of Data in Summary Vol. 6 No. 3 (2026): May - July
Publisher : Manunggal Halim Jaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52970/grdis.v6i3.2416

Abstract

This study aims to provide empirical evidence on the effect of Environmental, Social, and Governance (ESG) disclosure on financial performance. The study uses 60 firm-year observations from 20 companies included in the LQ45 Index and listed on the Indonesia Stock Exchange (IDX) during the 2022–2024 period. The sampling technique employed is purposive sampling. Hypothesis testing is conducted using multiple linear regression analysis. The Random Effect Model (REM) is applied to estimate the Return on Assets (ROA) model, while the Fixed Effect Model (FEM) is used to estimate the Return on Equity (ROE) model. Data are processed using EViews 13. Financial performance is measured using Return on Assets (ROA) and Return on Equity (ROE). The results indicate that Environmental, Social, and Governance disclosures do not have a significant effect on financial performance. These findings are expected to provide valuable insights for regulators, investors, and corporate management in developing and implementing ESG frameworks to enhance financial performance.