REPUTASI PENJAMIN EMISI, REPUTASI AUDITOR, PERSENTASE PENJAMIN EMISI, UKURAN PERUSAHAAN DAN FENOMENAUNDERPRICING: STUDI EMPIRIS PADA BURSA EFEK JAKARTA

Triani, Apriliani and Nikmah, Nikmah (2013) REPUTASI PENJAMIN EMISI, REPUTASI AUDITOR, PERSENTASE PENJAMIN EMISI, UKURAN PERUSAHAAN DAN FENOMENAUNDERPRICING: STUDI EMPIRIS PADA BURSA EFEK JAKARTA. In: Peran pendidikanAkuntansi dalam Memperkokoh Good Governance, 23-26 Agustus 2006, Fakultas Ekonomi, Universitas Andalas.

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Abstract

The purposes of this research are to find empirical evidences about (1) the influence of underwriter reputation, auditor reputation, stock offering percentage, firm size, firm age, value stock offering, standard deviation of return, the kind ofindustry, and economy condition to the initial return, 15 days return after IPO andfirm performace one year after IPO and (2) to examine whether there are differencefactors have influence on the initial return, 15 days return after IPO and firm performace one year after IPO with both category stock offering persentages. Thesample are all the firm do IPO in JSX during 1994-2000 outside financial firms.Base on the settled criteria, are obtained 90 of companies sample. This research useOLS regression and chow test to test the hypothesis which has developed.The result of this research shows that if control variable was not include,underwriter reputation have positive significant influence to initial return, stockoffering persentage influence negative significant to performance firm one year afterIPO. With or no control variable, auditor reputation not show correlation withinitial return, 15 day return after IPO and performance firm one year after IPO,.Firm size have positive significant sign to initial return, 15 day return after IPO and perfomance firm one year after IPO with or no included control variable.Economy condition of control variable influence positive significant to initial return and performance firm one year after IPO and value stock offering influence negative significant to initial return and 15 day return after IPO. With use chow test, we found that different factors infuence 15 day return after IPO and peformance firm one year after IPO with both category stock offering persentage under average and stock offering persentage upper average, but no different factors influence initial return to both category.

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