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Efek Pemoderasi Reputasi Underwriter dalam Hubungan antara IPO Underpricing dan IPO Oversubscription di Bursa Efek Indonesia Mutiara Syifa; Rachmat Sudarsono
Management Studies and Entrepreneurship Journal (MSEJ) Vol. 6 No. 6 (2025): Management Studies and Entrepreneurship Journal (MSEJ)
Publisher : Yayasan Pendidikan Riset dan Pengembangan Intelektual (YRPI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/msej.v6i6.9180

Abstract

Penelitian ini bertujuan untuk menganalisis pengaruh underpricing terhadap oversubscription IPO di Bursa Efek Indonesia periode 2023–2024, dengan reputasi underwriter sebagai variabel moderasi. Data diperoleh dari laporan IPO perusahaan yang tercatat di BEI dan dianalisis menggunakan regresi moderasi. Hasil penelitian menunjukkan bahwa underpricing berpengaruh positif signifikan terhadap oversubscription. Di samping itu, reputasi underwriter juga memperkuat hubungan tersebut secara positif dan signifikan. Penelitian ini menegaskan pentingnya kredibilitas penjamin emisi dalam menarik minat investor melalui penetapan harga yang tepat.    
Peran Otoritas Jasa Keuangan (OJK) dalam Meningkatkan Keuangan Inklusif melalui Akselerasi Pengembangan Pembiayaan UMKM Layyinaturrobaniyah Layyinaturrobaniyah; Mutiara Syifa
Jurnal Intelek Insan Cendikia Vol. 3 No. 2 (2026): Februari 2026
Publisher : PT. Intelek Cendikiawan Nusantara

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Abstract

Financial inclusion plays a crucial role in driving the growth of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. The Financial Services Authority (OJK) has a strategic role in accelerating MSME financing access through policies such as People's Business Credit (KUR), technology-based crowdfunding services, and an inclusive financial ecosystem. This study analyzes the effectiveness of OJK’s role, regulatory alignment, and coordination with Bank Indonesia, the Ministry of Finance, and the Ministry of Cooperatives and SMEs. Using a descriptive qualitative method based on literature reviews and secondary data, the findings indicate that OJK has implemented various  strategic initiatives but still faces challenges in regulatory harmonization and inter-agency coordination. Therefore, stronger synergy among stakeholders is needed to create a more inclusive and sustainable MSME financing ecosystem.