Journal of Management, Economic, and Accounting
Vol. 5 No. 2 (2026): April

The Effect Of Ratio To Asset And Debt To Equity Ratio On The Phenomenon Of Underpricing With The Inflation Rate As An Intervening Variable In Companies Conducting Initial Public Offerings On The Indonesian Stock Exchange

Aryasta, Muhammad Irza (Unknown)
Purba, Rahima Br (Unknown)
Nasution, M. Irsan (Unknown)

Article Info

Publish Date
30 Apr 2026

Abstract

The analysis technique used is path analysis with the help of SPSS 23 software. The results of the study indicate that (1) ROA has a significant negative effect on underpricing; (2) DER has a significant positive effect on underpricing; (3) inflation acts as an intervening variable that strengthens the effect of DER on underpricing; but does not mediate the effect of ROA on underpricing. These findings indicate that the company's fundamental factors and macroeconomic conditions simultaneously influence the initial stock price level in the Indonesian capital market.

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Journal Info
Journal of Management, Economic, and Accounting
Website

Abbrev

JMEA

Publisher

Universitas Dehasen Bengkulu

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance

Description

Journal of Management, Economic, and Accounting is a peer-reviewed journal. JMEA invites academics and researchers who do original research in the fields of economics, management, and accounting, including but not limited to: Management Science Marketing Financial management Human Resource ...