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Pengaruh kepemilikan manajerial terhadap hubungan kinerja keuangan dengan tingkat underpricing


Oleh : Astuti Rahayu

Info Katalog

File Jurnal : 00000000000000096974.pdf

Nomor Panggil : 2019_TA_AK_023001704134

Penerbit : FEB - Usakti

Kota Terbit : Jakarta

Tahun Terbit : 2019

Pembimbing 1 : Hj Khomsiyah

Subyek : Financial accounting;Financial perfomance

Kata Kunci : underpricing, financial leverage, price earning ratio, and managerial ownership


File Repositori
No. Nama File Ukuran (KB) Status
1. 2019_TA_AK_023001704134_Halaman-Judul.pdf 1041.78
2. 2019_TA_AK_023001704134_Bab-1.pdf 988.08
3. 2019_TA_AK_023001704134_Bab-2.pdf 1072.32
4. 2019_TA_AK_023001704134_Bab-3.pdf 833.76
5. 2019_TA_AK_023001704134_Bab-4.pdf 930.78
6. 2019_TA_AK_023001704134_Bab-5.pdf 613.01
7. 2019_TA_AK_023001704134_Daftar-Pustaka.pdf 670.54
8. 2019_TA_AK_023001704134_Lampiran.pdf 758.87

I Initial Public Ofering (IPO) merupakan kegiatan yang dilakukan perusahaandalam rangka penawaran umum penjualan saham perdana. Saham-saham yangtercatat di pasar perdana pada umumnya diminati investor karena memberikan initialreturn. Return ini mengindikasikan terjadinya underpricing saham di pasar perdana ketika masuk pasar sekunder. Underpricing adalah kondisi dimana harga sahampada waktu penawaran perdana lebih rendah dibandingkan dengan harga di pasarsekunder.Tujuan penelitian ini adalah untuk membuktikan secara empiris pengaruhFinancial Leverage dan Price Earning Ratio terhadap tingkat Underpricing denganKepemilikan Manajerial sebagai pemoderasi pada Perusahaan Non-Keuangan yangmengalami underpricing di Bursa Efek Indonesia selama tahun 2010-2017. Denganmetode purposive sampling, diperoleh sampel sebanyak 91 perusahaan. Penelitian inidilakukan dengan menggunakan analisis regresi moderasi dengan tingkat signifikansi5%.Hasil penelitian ini menyimpulkan bahwa hanya variabel Price Earning Ratioyang berpengaruh terhadap tingkat Underpricing sementara variabel FinancialLeverage tidak berpengaruh terhadap tingkat Underpricing. Sedangkan untukvariabel moderasi Kepemilikan Manajerial tidak memperkuat pengaruh hubunganantara variabel Financial Leverage dan variabel Price Earning Ratio dengan tingkatUnderpricing.

I Initial public offering (IPO) is the term of company’s activity to sell stocks to public in primary markets. Those primary market listed stocks are generally preffered by investors since they give initial return. The initial return will indicate the occurance of stocks underpricing when the stocks generally listed and traded in secondary market. Underpricing is condition in which the stocks price at the time of initial offering relatively lower than the price in secondary market.The purpose of this research is to empirically show the influence of financialleverage and price earning ratio on level underpricing with managerial ownershipas moderating at non-financial companies that experience underpricing listed onIndonesia Stock Exchange (IDX) during the year 2010-2017. This research usedpurposive sampling method, and there were 91 selected samples. This research wascarried out through the analysis of moderated regression analysis (MRA) with a 5%significance level.The results of this study conclude that only price earning ratio variablesaffecting underpricing while financial leverage variables have no effect onunderpricing. Meanwhile the moderating variable, managerial ownership nostrengthens the effect between financial leverage and price earning ratio with thelevel underpricing.

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