Habibi, M. Azam (2019) Analisis informasi keuangan dan non keuangan perusahaan terhadap underpricing pada peristiwa IPO di Indonesia (studi pada perusahaan yang melakukan IPO di BEI periode 1993-2018) / M. Azam Habibi. Diploma thesis, Universitas Negeri Malang.
Full text not available from this repository.Abstract
ABSTRAK Habibi Muhammad Azam. 2019.Analisis Informasi Keuangan dan Non Keuangan Perusahaan Terhadap Underpricing Pada Peristiwa IPO di Indonesia (Studi pada Perusahaan yang Melakukan Initial Public Offering (IPO) di Bursa Efek Indonesia Periode 1993-2018). Skripsi Jurusan Manajemen Fakultas Ekonomi Universitas Negeri Malang. Malang. Pembimbing (I) Yuli Soesetio S.E. M.M. Kata Kunci Initial Public Offering (IPO) Underpricing Return On Equity (ROE) Debt to Total Asset Ratio (DAR) Strategi perusahaan untuk mendapatkan dana dengan menerbitkan surat berharga (saham) di pasar modal. Pasar modal merupakan kegiatan penawaran umum yang dilakukan perusahaan dalam mencari sumber pendanaan setelah laba ditahan dan hutang tidak mampu mencukupi kebutuhan dana perusahaan sehingga alternatif pendanaan yang bersumber dari luar perusahaan dengan menerbitkan saham. Sebelum melakukan penjualan saham di pasar modal perusahaan terlebih dahulu melalui proses penawaran perdana (Initial public offering). Initial public offering merupakan suatu kegiatan dimana pertama kali perusahaan menerbitkan atau menawarkan sahamnya kepada publik di pasar perdana. Fenomena yang sering terjadi saat penawaran perdana yakni harga di pasar perdana lebih rendah daripada di pasar sekunder. Penelitian ini bertujuan untuk mengetahui seberapa besar pengaruh informasi keuangan dengan penambahan informasi non keuangan terhadap underpricing pada perusahaan yang melakukan IPO di Bursa Efek Indonesia periode 1993-2018. Berdasarkan informasi dalam propektus maka penelitian ini menggunakan variabel rasio keuangan dan non kuangan. Variabel keuangan terdiri dari rasio profitabilitas (Return On Equity) dan rasio Solvabilitas (Debt to Asset Ratio). Sedangkan untuk variabel non keuangan sebagai variable control terdiri dari Kepemilikan Institusional Jenis Kepemilikan Saham BUMN Non BUMN dan Reputasi Underwriter. Metode sampling yang digunakan dalam penelitian ini adalahproposive sampling. Analisis regresi berganda digunakan untuk menguji pengaruh variable independen terhadap variable dependen. Rancangan penelitian ini menggunakan 7 model persamaan. Analisis pertama untuk menguji pengaruh variable keuangan terhadap underpricing. Kemudian melakukan penambahan variabel non keuangan untuk menguji konsistensi variabel keuangan terhadap underpricing. Penambahan variabel non keuangan pada rancangan penelitian dilakukan secara bergantian dan acak. Hasil penelitian ini menunjukkan bahwa investor dalam pengambilan keputusan investasi lebih memperhatikan informasi DAR dan mengabaikan informasi ROE. Selain itu informasi non keuangan yaitu Kepemilikan institusional Jenis Kepemilikan Saham BUMN Non BUMN dan Reputasi Underwriter mendapat perhatian oleh investor dalam keputusan investasinya. Perusahaan yang melakukan kegiatan penawaran perdana dengan memiliki hutang yang tinggi sebagian dana yang diperoleh harus digunakan untuk melunasi hutang-hutang. Sehingga resiko likuiditas dan solvabilitas perusahaan dapat dihindari hal ini agar perusahaan tidak mengalami kebangkrutan. ABSTRACT Habibi Muhammad Azam. 2019. Analysis of Financial Information and Non-Financial Companies Of Underpricing at IPO Events in Indonesia (Study of Companies Conducting Initial Public Offering (IPO) on the Indonesia Stock Exchange Period 1993-2018).Sarjana s Thesis Department of Management Faculty of Economics Universitas Negeri Malang. Malang. Advisor Yuli Soesetio S.E. M.M Keywords Initial Public Offering (IPO) Underpricing Return On Equity (ROE) Debt to Total Asset Ratio (DAR) The company s strategy to obtain funds is by issuing securities (shares) in the capital market. The capital market is a public offering activity carried out by the company in seeking funding sources after retained earnings and debt are unable to meet the company s funding needs so that alternative funding comes from outside the company by issuing shares. Before selling shares in the capital market the company first goes through an initial public offering process. Initial public offering is an activity where the company first publishes or offers its shares to the public on the primary market. A phenomenon that often occurs during initial public offering namely the price of the prime market is lower than in the secondary market. This study aims to find out how much influence financial information has by adding non-financial information to underpricing of companies that conduct IPOs on the Indonesia Stock Exchange in the period 1993-2018. Based on information in propectus this study uses financial and non-financial ratio variables. Financial variable consists of profitability ratio (Return On Equity) and Solvability ratio (Debt to Asset Ratio). Whereas for non-financial variables as a control variable consists of Institutional Ownership Types of BUMN Non-BUMN Share Ownership and Underwriter Reputation. The sampling method used in this study is proposive sampling. Multiple regression analysis is used to test the effect of independent variables on the dependent variable. The design of this study uses 7 equation models. The first analysis to examine the effect of financial variables on underpricing. Then do the addition of non-financial variables to test the consistency of financial variables for underpricing. The addition of non-financial variables in the study design was carried out alternately and randomly. The results of this study indicate that investors in investment decision making pay more attention to DAR information and ignore ROE information. In addition non-financial information namely institutional ownership type of share ownership of BUMNs non-BUMNs and reputation of underwriters received attention from investors in their investment decisions. Companies that conduct prime offering activities with high debt some of the funds obtained must be used to pay off debts. So that the liquidity risk and solvency of the company can be avoided this is so that the company does not experience bankruptcy.
| Item Type: | Thesis (Diploma) |
|---|---|
| Subjects: | ?? ?? |
| Divisions: | Fakultas Ekonomi dan Bisnis (FEB) > Departemen Manajemen (MNJ) > S1 Manajemen |
| Depositing User: | library UM |
| Date Deposited: | 05 Aug 2019 04:29 |
| Last Modified: | 09 Sep 2019 03:00 |
| URI: | http://repository.um.ac.id/id/eprint/149812 |
Actions (login required)
 |
View Item |