Analisa Likuiditas, Financial Leverage, Aktivitas, dan Profitabilitas Terhadap Initial Return Perusahaan Yang Melakukan Initial Public Offering di Bursa Efek Indonesia Tahun 2006-2016

Bernadette Setyawan, Hatane Semuel, Sautma Basana

Abstract


Minat investor terhadap saham IPO menunjukkan tren yang semakin meningkat setiap tahunnya. Saham ini menjadi menarik karena dapat menghasilkan Initial Return besar dalam waktu singkat. Namun tidak semua saham IPO menghasilkan tingkat Initial Return yang tinggi sehingga penting untuk dapat menilai saham IPO dengan tepat agar investor dapat memperoleh Initial Return yang maksimal.

 

Penelitian ini dimaksudkan untuk memahami faktor-faktor yang dapat mempengaruhi tingkat Initial Return saham IPO, antara lain Likuiditas, Financial Leverage, Aktivitas dan Profitabilitas. Metode pengolahan data dilakukan dengan menggunakan regresi linier berganda pada data sampel berupa data laporan keuangan perusahaan. Dari hasil penelitian diketahui bahwa secara parsial Likuiditas (CR), Financial Leverage (DER), dan Profitabilitas (ROE) berpengaruh terhadap tingkat Initial Return dan tidak ditemukan pengaruh Aktivitas (TAT) terhadap tingkat Initial Return. Informasi ini dapat digunakan oleh investor untuk membantu keputusan dalam berinvestasi pada saham IPO.

 

Kata Kunci: Initial Public Offering, Initial Return, Likuiditas, Financial Leverage, Aktivitas, Profitabilitas


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