CD Skripsi
“Faktor-Faktor Yang Mempengaruhi Tingkat Underpricing Pada Perusahaan Non-Keuangan Yang Melakukan Initial Public Offering (Ipo) Di Bursa Efek Indonesia Tahun 2014-2019”
This study aims to find empirical evidence of the factors that affect the level of
underpricing when a company conducts an Initial Public Offering (IPO). The factors
tested in this study include Economic Value Added, Operating Leverage and
Financial Leverage. Researchers added inflation and interest rates as moderating
variables in this study.
The population of this research is non-financial companies conducting Initial
Public Offering (IPO) on the Indonesia Stock Exchange for the 2014-2019 period.
The sample of this research was selected using purposive sampling criteria so that
124 non-financial companies were selected to conduct Initial Public Offering (IPO)
in 2014-2019. To examine the factors that contribute to the level of underpricing, this
study uses moderated regression analysis and uses Warp PLS 7.0 as its analysis tool.
The results of this study indicate that economic value added has a significant
negative effect on the level of underpricing and financial leverage has a positive
effect on the level of underpricing, while operating leverage has no significant
negative effect on the level of underpricing. Inflation as a moderating variable is only
able to moderate the effect of financial leverage on the level of underpricing and
interest rates as a moderating variable can only moderate the effect of operating
leverage on the level of underpricing.
Keywords: Economic Value Added, Operating Leverage, Financial Leverage,
Inflation, Interest Rates and Underpricing
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